Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Jan. 31, 2017 | Jun. 30, 2016 | |
Entity Registrant Name | ENTERGY CORP /DE/ | ||
Entity Central Index Key | 65,984 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 14.6 | ||
Entity Common Stock, Shares Outstanding | 179,394,698 | ||
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 | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
OPERATING REVENUES | ||||
Electric | $ 8,866,659 | $ 9,308,678 | $ 9,591,902 | |
Natural gas | 129,348 | 142,746 | 181,794 | |
Competitive businesses | 1,849,638 | 2,061,827 | 2,721,225 | |
TOTAL | 10,845,645 | 11,513,251 | 12,494,921 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 1,809,200 | 2,452,171 | 2,632,558 | |
Purchased power | 1,220,527 | 1,390,805 | 1,915,414 | |
Nuclear refueling outage expenses | 208,678 | 251,316 | 267,679 | |
Operation and maintenance expense | 3,296,711 | 3,354,981 | 3,310,536 | |
Asset Write-Offs, Impairments, And Related Charges | 2,835,637 | 2,104,906 | 179,752 | |
Decommissioning | 327,425 | 280,272 | 272,621 | |
Taxes other than income taxes | 592,502 | 619,422 | 604,606 | |
Depreciation and amortization | 1,347,187 | 1,337,276 | 1,318,638 | |
Other regulatory charges (credits) - net | 94,243 | 175,304 | (13,772) | |
TOTAL | 11,732,110 | 11,966,453 | 10,488,032 | |
Gain on sale of asset | 0 | 154,037 | 0 | |
OPERATING INCOME (LOSS) | (886,465) | (299,165) | 2,006,889 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 67,563 | 51,908 | 64,802 | |
Investment Income, Net | 145,127 | 187,062 | 147,686 | |
Miscellaneous - net | (41,617) | (95,997) | (42,016) | |
TOTAL | 171,073 | 142,973 | 170,472 | |
INTEREST EXPENSE | ||||
Interest expense | 700,545 | 670,096 | 661,083 | |
Allowance for borrowed funds used during construction | (34,175) | (26,627) | (33,576) | |
TOTAL | 666,370 | 643,469 | 627,507 | |
INCOME (LOSS) BEFORE INCOME TAXES | (1,381,762) | (799,661) | 1,549,854 | |
Income Tax Expense (Benefit) | (817,259) | (642,927) | 589,597 | |
CONSOLIDATED NET INCOME (LOSS) | [1] | (564,503) | (156,734) | 960,257 |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 19,115 | 19,828 | 19,536 | |
NET INCOME | $ (583,618) | $ (176,562) | $ 940,721 | |
Earnings (loss) per average common share: | ||||
Basic (in usd per share) | $ (3.26) | $ (0.99) | $ 5.24 | |
Diluted (in usd per share) | $ (3.26) | $ (0.99) | $ 5.22 | |
Basic average number of common shares outstanding | 178,885,660 | 179,176,356 | 179,506,151 | |
Diluted average number of common shares outstanding | 178,885,660 | 179,176,356 | 180,296,885 | |
Entergy Arkansas [Member] | ||||
OPERATING REVENUES | ||||
Electric | $ 2,086,608 | $ 2,253,564 | $ 2,172,391 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 325,036 | 535,919 | 327,695 | |
Purchased power | 233,350 | 380,081 | 528,815 | |
Nuclear refueling outage expenses | 56,650 | 51,411 | 43,258 | |
Operation and maintenance expense | 706,573 | 734,118 | 647,461 | |
Decommissioning | 53,610 | 50,414 | 46,972 | |
Taxes other than income taxes | 93,109 | 99,926 | 91,470 | |
Depreciation and amortization | 264,215 | 246,897 | 236,770 | |
Other regulatory charges (credits) - net | 7,737 | (24,608) | (20,054) | |
TOTAL | 1,740,280 | 2,074,158 | 1,902,387 | |
OPERATING INCOME (LOSS) | 346,328 | 179,406 | 270,004 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 17,099 | 14,227 | 7,238 | |
Investment Income, Net | 19,087 | 22,382 | 23,075 | |
Miscellaneous - net | (1,446) | (3,385) | (5,144) | |
TOTAL | 34,740 | 33,224 | 25,169 | |
INTEREST EXPENSE | ||||
Interest expense | 115,311 | 105,622 | 93,921 | |
Allowance for borrowed funds used during construction | (9,228) | (7,805) | (3,769) | |
TOTAL | 106,083 | 97,817 | 90,152 | |
INCOME (LOSS) BEFORE INCOME TAXES | 274,985 | 114,813 | 205,021 | |
Income Tax Expense (Benefit) | 107,773 | 40,541 | 83,629 | |
CONSOLIDATED NET INCOME (LOSS) | 167,212 | 74,272 | 121,392 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 5,270 | 6,873 | 6,873 | |
NET INCOME | 161,942 | 67,399 | 114,519 | |
Entergy Louisiana [Member] | ||||
OPERATING REVENUES | ||||
Electric | 4,126,343 | 4,361,524 | 4,668,814 | |
Natural gas | 50,705 | 55,622 | 71,690 | |
TOTAL | 4,177,048 | 4,417,146 | 4,740,504 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 804,433 | 850,869 | 1,029,793 | |
Purchased power | 890,058 | 1,129,910 | 1,508,104 | |
Nuclear refueling outage expenses | 51,361 | 44,480 | 51,790 | |
Operation and maintenance expense | 923,779 | 997,546 | 907,308 | |
Decommissioning | 46,944 | 43,445 | 41,493 | |
Taxes other than income taxes | 165,665 | 167,966 | 159,594 | |
Depreciation and amortization | 451,290 | 437,036 | 408,073 | |
Other regulatory charges (credits) - net | 44,131 | 27,562 | (43,484) | |
TOTAL | 3,377,661 | 3,698,814 | 4,062,671 | |
OPERATING INCOME (LOSS) | 799,387 | 718,332 | 677,833 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 27,925 | 19,192 | 46,240 | |
Investment Income, Net | 154,778 | 150,168 | 134,885 | |
Miscellaneous - net | (11,597) | (13,190) | 850 | |
TOTAL | 171,106 | 156,170 | 181,975 | |
INTEREST EXPENSE | ||||
Interest expense | 273,283 | 259,894 | 253,455 | |
Allowance for borrowed funds used during construction | (14,571) | (10,702) | (24,721) | |
TOTAL | 258,712 | 249,192 | 228,734 | |
INCOME (LOSS) BEFORE INCOME TAXES | 711,781 | 625,310 | 631,074 | |
Income Tax Expense (Benefit) | 89,734 | 178,671 | 185,052 | |
CONSOLIDATED NET INCOME (LOSS) | 622,047 | 446,639 | 446,022 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 5,737 | 7,796 | |
NET INCOME | 622,047 | 440,902 | 438,226 | |
Entergy Mississippi [Member] | ||||
OPERATING REVENUES | ||||
Electric | 1,094,649 | 1,396,985 | 1,524,193 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 95,090 | 291,666 | 325,643 | |
Purchased power | 297,902 | 389,950 | 493,533 | |
Operation and maintenance expense | 250,443 | 261,255 | 256,339 | |
Write-Off Of Regulatory Asset For New Nuclear | 0 | 0 | 56,225 | |
Taxes other than income taxes | 94,482 | 94,152 | 87,936 | |
Depreciation and amortization | 136,214 | 129,029 | 113,903 | |
Other regulatory charges (credits) - net | (3,721) | 19,027 | 3,854 | |
TOTAL | 870,410 | 1,185,079 | 1,337,433 | |
OPERATING INCOME (LOSS) | 224,239 | 211,906 | 186,760 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 5,801 | 3,095 | 2,380 | |
Investment Income, Net | 656 | 195 | 1,055 | |
Miscellaneous - net | (3,531) | (4,418) | (3,905) | |
TOTAL | 2,926 | (1,128) | (470) | |
INTEREST EXPENSE | ||||
Interest expense | 57,114 | 57,842 | 57,002 | |
Allowance for borrowed funds used during construction | (2,987) | (1,644) | (1,243) | |
TOTAL | 54,127 | 56,198 | 55,759 | |
INCOME (LOSS) BEFORE INCOME TAXES | 173,038 | 154,580 | 130,531 | |
Income Tax Expense (Benefit) | 63,854 | 61,872 | 55,710 | |
CONSOLIDATED NET INCOME (LOSS) | 109,184 | 92,708 | 74,821 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 2,443 | 2,828 | 2,828 | |
NET INCOME | 106,741 | 89,880 | 71,993 | |
Entergy New Orleans [Member] | ||||
OPERATING REVENUES | ||||
Electric | 586,820 | 584,322 | 625,088 | |
Natural gas | 78,643 | 87,124 | 110,104 | |
TOTAL | 665,463 | 671,446 | 735,192 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 40,489 | 96,307 | 178,347 | |
Purchased power | 299,551 | 277,851 | 271,159 | |
Operation and maintenance expense | 117,471 | 119,087 | 131,549 | |
Taxes other than income taxes | 48,078 | 46,660 | 49,964 | |
Depreciation and amortization | 51,737 | 43,205 | 45,426 | |
Other regulatory charges (credits) - net | 8,258 | 3,366 | 791 | |
TOTAL | 565,584 | 586,476 | 677,236 | |
OPERATING INCOME (LOSS) | 99,879 | 84,970 | 57,956 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 1,178 | 1,404 | 1,750 | |
Investment Income, Net | 256 | 73 | 95 | |
Miscellaneous - net | (3,144) | 339 | 614 | |
TOTAL | (1,710) | 1,816 | 2,459 | |
INTEREST EXPENSE | ||||
Interest expense | 21,061 | 17,312 | 16,820 | |
Allowance for borrowed funds used during construction | (446) | (641) | (885) | |
TOTAL | 20,615 | 16,671 | 15,935 | |
INCOME (LOSS) BEFORE INCOME TAXES | 77,554 | 70,115 | 44,480 | |
Income Tax Expense (Benefit) | 28,705 | 25,190 | 13,450 | |
CONSOLIDATED NET INCOME (LOSS) | 48,849 | 44,925 | 31,030 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 965 | 965 | 965 | |
NET INCOME | 47,884 | 43,960 | 30,065 | |
Entergy Texas [Member] | ||||
OPERATING REVENUES | ||||
Electric | 1,615,619 | 1,707,203 | 1,851,982 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 271,968 | 277,810 | 282,809 | |
Purchased power | 616,597 | 709,947 | 881,438 | |
Operation and maintenance expense | 220,566 | 254,731 | 232,955 | |
Asset Write-Offs, Impairments, And Related Charges | 0 | 23,472 | 0 | |
Taxes other than income taxes | 70,973 | 72,945 | 70,439 | |
Depreciation and amortization | 107,026 | 102,410 | 99,609 | |
Other regulatory charges (credits) - net | 82,879 | 82,243 | 76,017 | |
TOTAL | 1,370,009 | 1,523,558 | 1,643,267 | |
OPERATING INCOME (LOSS) | 245,610 | 183,645 | 208,715 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 7,617 | 5,678 | 2,959 | |
Investment Income, Net | 987 | 684 | 1,106 | |
Miscellaneous - net | (746) | (798) | (2,345) | |
TOTAL | 7,858 | 5,564 | 1,720 | |
INTEREST EXPENSE | ||||
Interest expense | 87,776 | 86,024 | 88,049 | |
Allowance for borrowed funds used during construction | (4,943) | (3,690) | (2,062) | |
TOTAL | 82,833 | 82,334 | 85,987 | |
INCOME (LOSS) BEFORE INCOME TAXES | 170,635 | 106,875 | 124,448 | |
Income Tax Expense (Benefit) | 63,097 | 37,250 | 49,644 | |
CONSOLIDATED NET INCOME (LOSS) | 107,538 | 69,625 | 74,804 | |
System Energy [Member] | ||||
OPERATING REVENUES | ||||
Electric | 548,291 | 632,405 | 664,364 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 27,416 | 89,598 | 84,658 | |
Nuclear refueling outage expenses | 19,512 | 21,654 | 23,309 | |
Operation and maintenance expense | 153,064 | 156,552 | 156,502 | |
Decommissioning | 50,797 | 47,993 | 41,835 | |
Taxes other than income taxes | 25,195 | 27,281 | 25,160 | |
Depreciation and amortization | 136,195 | 143,133 | 142,583 | |
Other regulatory charges (credits) - net | (45,041) | (39,434) | (30,799) | |
TOTAL | 367,138 | 446,777 | 443,248 | |
OPERATING INCOME (LOSS) | 181,153 | 185,628 | 221,116 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 7,944 | 8,494 | 5,069 | |
Investment Income, Net | 14,793 | 14,437 | 11,037 | |
Miscellaneous - net | (556) | (876) | (529) | |
TOTAL | 22,181 | 22,055 | 15,577 | |
INTEREST EXPENSE | ||||
Interest expense | 37,529 | 45,532 | 58,384 | |
Allowance for borrowed funds used during construction | (2,000) | (2,244) | (1,335) | |
TOTAL | 35,529 | 43,288 | 57,049 | |
INCOME (LOSS) BEFORE INCOME TAXES | 167,805 | 164,395 | 179,644 | |
Income Tax Expense (Benefit) | 71,061 | 53,077 | 83,310 | |
CONSOLIDATED NET INCOME (LOSS) | $ 96,744 | $ 111,318 | $ 96,334 | |
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Net income | [1] | $ (564,503) | $ (156,734) | $ 960,257 |
Other comprehensive income (loss) | ||||
Cash flow hedges net unrealized gain (loss) | (101,977) | 7,852 | 179,895 | |
Pension and other postretirement liabilities | (2,842) | 103,185 | (281,566) | |
Net unrealized investment gains | 62,177 | (59,138) | 89,439 | |
Foreign currency translation | (1,280) | (641) | (751) | |
Net other comprehensive income (loss) for the period | (43,922) | 51,258 | (12,983) | |
Total comprehensive income | (608,425) | (105,476) | 947,274 | |
Preferred dividend requirements of subsidiaries | [1] | 19,115 | 19,828 | 19,536 |
Comprehensive Income Attributable to Entergy Corporation | (627,540) | (125,304) | 927,738 | |
Entergy Louisiana [Member] | ||||
Net income | 622,047 | 446,639 | 446,022 | |
Other comprehensive income (loss) | ||||
Pension and other postretirement liabilities | 7,970 | 22,811 | (41,386) | |
Net other comprehensive income (loss) for the period | 7,970 | 22,811 | (41,386) | |
Total comprehensive income | $ 630,017 | 469,450 | 404,636 | |
Preferred dividend requirements of subsidiaries | $ 5,737 | $ 7,796 | ||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Statements Of Com4
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flow hedges net unrealized gain (loss), tax expense (benefit) | $ (55,298) | $ 3,752 | $ 96,141 |
Pension and other postretirement liabilities, tax expense | (3,952) | 61,576 | (152,763) |
Net unrealized investment gains, tax expense | 57,277 | (45,904) | 66,594 |
Foreign currency translation, tax expense | (689) | (345) | (404) |
Entergy Louisiana [Member] | |||
Pension and other postretirement liabilities, tax expense | $ 5,034 | $ 14,316 | $ (25,984) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | [1] | $ (564,503) | $ (156,734) | $ 960,257 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 2,123,291 | 2,117,236 | 2,127,892 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | (836,257) | (820,350) | 596,935 | |
Asset Write-Offs, Impairments, And Related Charges | 2,835,637 | 2,104,906 | 123,527 | |
Gain on sale of asset | 0 | (154,037) | 0 | |
Changes in working capital: | ||||
Receivables | (96,975) | 38,152 | 98,493 | |
Fuel inventory | 38,210 | (12,376) | 3,524 | |
Accounts payable | 174,421 | (135,211) | (12,996) | |
Prepaid taxes and taxes accrued | (28,963) | 81,969 | (62,985) | |
Interest accrued | (7,335) | (11,445) | 25,013 | |
Deferred fuel costs | (241,896) | 298,725 | (70,691) | |
Other working capital accounts | 31,197 | (113,701) | 112,390 | |
Changes in provisions for estimated losses | 20,905 | 42,566 | 301,871 | |
Changes in other regulatory assets | (48,469) | 262,317 | (1,061,537) | |
Changes in other regulatory liabilities | 158,031 | 61,241 | 87,654 | |
Changes in pensions and other postretirement liabilities | (136,919) | (446,418) | 1,308,166 | |
Other | (421,676) | 134,344 | (647,952) | |
Net cash flow provided by operating activities | 2,998,699 | 3,291,184 | 3,889,561 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (2,780,222) | (2,500,860) | (2,119,191) | |
Allowance for equity funds used during construction | 68,345 | 53,635 | 68,375 | |
Nuclear fuel purchases | (314,706) | (493,604) | (537,548) | |
Payment for purchase of plant | (949,329) | 0 | 0 | |
Proceeds from sale of assets | 0 | 487,406 | 10,100 | |
NYPA value sharing payment | 0 | (70,790) | (72,000) | |
Payments To Storm Reserve Escrow Account | (1,544) | (69,163) | (276,057) | |
Receipts from storm reserve escrow account | 0 | 5,916 | 0 | |
Changes in securitization account | 4,007 | (5,806) | 1,511 | |
Decrease in other investments | 9,055 | 571 | 46,983 | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 169,085 | 18,296 | 0 | |
Proceeds from nuclear decommissioning trust fund sales | 2,408,920 | 2,492,176 | 1,872,115 | |
Investment in nuclear decommissioning trust funds | (2,484,627) | (2,550,958) | (1,989,446) | |
Proceeds from insurance | 20,968 | 24,399 | 40,670 | |
Net cash flow used in investing activities | (3,850,048) | (2,608,782) | (2,954,488) | |
Proceeds from the issuance of: | ||||
Long-term debt | 6,800,558 | 3,502,189 | 3,100,069 | |
Preferred stock of subsidiary | 0 | 107,426 | 0 | |
Common stock and treasury stock | 33,114 | 24,366 | 194,866 | |
Retirement of long-term debt | (5,311,324) | (3,461,518) | (2,323,313) | |
Repurchase of common stock | 0 | (99,807) | (183,271) | |
Payments for Repurchase of Preferred Stock and Preference Stock | (115,283) | (94,285) | 0 | |
Changes in credit borrowings and commercial paper - net | (79,337) | (104,047) | (448,475) | |
Dividends paid: | ||||
Common stock | (611,835) | (598,897) | (596,117) | |
Preferred stock | (20,789) | (19,758) | (19,511) | |
Other | (6,872) | (9,136) | 23,579 | |
Net cash flow provided by (used in) financing activities | 688,232 | (753,467) | (252,173) | |
Net increase (decrease) in cash and cash equivalents | (163,117) | (71,065) | 682,900 | |
Cash and cash equivalents at beginning of period | 1,350,961 | 1,422,026 | 739,126 | |
Cash and cash equivalents at end of period | 1,187,844 | 1,350,961 | 1,422,026 | |
Cash paid during the period for: | ||||
Interest - net of amount capitalized | 746,779 | 663,630 | 611,376 | |
Income taxes | 95,317 | 103,589 | 77,799 | |
Entergy Arkansas [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 167,212 | 74,272 | 121,392 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 414,933 | 400,156 | 387,945 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 201,219 | (4,330) | 130,132 | |
Changes in working capital: | ||||
Receivables | (39,118) | 20,813 | 25,661 | |
Fuel inventory | 29,929 | (11,791) | (9,394) | |
Accounts payable | 143,645 | (2,528) | (120,097) | |
Prepaid taxes and taxes accrued | 37,485 | (54,531) | 14,261 | |
Interest accrued | (3,303) | (367) | (1,786) | |
Deferred fuel costs | (105,741) | 151,332 | (140,483) | |
Other working capital accounts | (46,490) | (44,784) | 72,411 | |
Changes in provisions for estimated losses | 13,130 | (137) | (57) | |
Changes in other regulatory assets | (95,464) | 60,279 | (367,234) | |
Changes in pensions and other postretirement liabilities | (36,805) | (110,936) | 252,639 | |
Other | (4,121) | (2,558) | 38,436 | |
Net cash flow provided by operating activities | 676,511 | 474,890 | 403,826 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (666,289) | (624,546) | (535,464) | |
Allowance for equity funds used during construction | 17,754 | 15,882 | 10,789 | |
Nuclear fuel purchases | (102,050) | (132,252) | (195,092) | |
Proceeds from sale of nuclear fuel | 39,313 | 52,281 | 75,860 | |
Payment for purchase of plant | (237,323) | 0 | 0 | |
Changes in securitization account | 64 | (108) | (261) | |
Proceeds from nuclear decommissioning trust fund sales | 197,390 | 212,954 | 181,489 | |
Investment in nuclear decommissioning trust funds | (213,093) | (223,357) | (190,062) | |
Change in money pool receivable - net | 0 | 2,218 | 15,313 | |
Proceeds from insurance | 10,404 | 11,654 | 36,600 | |
Other | 5,835 | 0 | 200 | |
Net cash flow used in investing activities | (947,995) | (685,274) | (600,628) | |
Proceeds from the issuance of: | ||||
Long-term debt | 817,563 | 0 | 707,465 | |
Retirement of long-term debt | (628,433) | (13,234) | (447,815) | |
Proceeds from Contributions from Parent | 200,000 | 0 | 0 | |
Payments for Repurchase of Redeemable Preferred Stock | (85,283) | 0 | 0 | |
Change in money pool payable - net | (1,510) | 52,742 | 0 | |
Changes in credit borrowings and commercial paper - net | (11,690) | (36,278) | 47,968 | |
Dividends paid: | ||||
Common stock | 0 | 0 | (10,000) | |
Preferred stock | (6,631) | (6,873) | (6,873) | |
Other | (1,158) | 4,657 | (2,460) | |
Net cash flow provided by (used in) financing activities | 282,858 | 1,014 | 288,285 | |
Net increase (decrease) in cash and cash equivalents | 11,374 | (209,370) | 91,483 | |
Cash and cash equivalents at beginning of period | 9,135 | 218,505 | 127,022 | |
Cash and cash equivalents at end of period | 20,509 | 9,135 | 218,505 | |
Cash paid during the period for: | ||||
Interest - net of amount capitalized | 112,912 | 100,435 | 90,285 | |
Income taxes | (135,709) | 103,296 | (48,948) | |
Entergy Louisiana [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 622,047 | 446,639 | 446,022 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 620,211 | 593,635 | 580,742 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 178,549 | 97,461 | 248,686 | |
Changes in working capital: | ||||
Receivables | (102,200) | (12,795) | 101,965 | |
Fuel inventory | (2,693) | (887) | 2,708 | |
Accounts payable | (36,720) | 23,641 | (28,422) | |
Prepaid taxes and taxes accrued | (235,246) | 105,687 | 183,313 | |
Interest accrued | 1,218 | 2,933 | 3,567 | |
Deferred fuel costs | (17,023) | 4,222 | 40,245 | |
Other working capital accounts | 6,462 | (41,890) | 17,761 | |
Changes in provisions for estimated losses | 490 | (8,946) | 274,349 | |
Changes in other regulatory assets | 57,579 | 130,762 | (314,837) | |
Changes in other regulatory liabilities | 62,351 | 96,234 | 29,713 | |
Changes in pensions and other postretirement liabilities | (52,559) | (98,695) | 299,319 | |
Other | (64,554) | (182,485) | (166,540) | |
Net cash flow provided by operating activities | 1,037,912 | 1,155,516 | 1,718,591 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (1,030,416) | (845,227) | (757,376) | |
Allowance for equity funds used during construction | 27,925 | 19,192 | 46,240 | |
Nuclear fuel purchases | (73,618) | (244,040) | (172,297) | |
Proceeds from sale of nuclear fuel | 63,304 | 54,595 | 126,004 | |
Payment for purchase of plant | (474,670) | 0 | 0 | |
Proceeds from sale of assets | 0 | 59,610 | 0 | |
Investment in affiliates | 0 | 0 | (293,516) | |
Payments To Storm Reserve Escrow Account | 0 | (308) | (268,576) | |
Changes in securitization account | 351 | (137) | 1,480 | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 57,934 | 0 | 0 | |
Proceeds from nuclear decommissioning trust fund sales | 219,182 | 123,474 | 216,688 | |
Investment in nuclear decommissioning trust funds | (257,209) | (158,028) | (245,446) | |
Change in money pool receivable - net | (16,349) | (3,339) | 16,758 | |
Proceeds from insurance | 10,564 | 0 | 0 | |
Other | (1,063) | 0 | 0 | |
Net cash flow used in investing activities | (1,474,065) | (994,208) | (1,330,041) | |
Proceeds from the issuance of: | ||||
Long-term debt | 2,450,063 | 77,172 | 751,565 | |
Retirement of long-term debt | (1,488,870) | (180,595) | (512,180) | |
Payments for Repurchase of Preferred Stock and Related Expense | 0 | (110,286) | 0 | |
Changes in credit borrowings and commercial paper - net | (56,562) | 14,322 | 28,310 | |
Dividends paid: | ||||
Common stock | (285,500) | (226,000) | (487,502) | |
Preferred stock | 0 | (6,082) | (7,775) | |
Other | (4,230) | (15,253) | 19,960 | |
Net cash flow provided by (used in) financing activities | 614,901 | (446,722) | (207,622) | |
Net increase (decrease) in cash and cash equivalents | 178,748 | (285,414) | 180,928 | |
Cash and cash equivalents at beginning of period | 35,102 | 320,516 | 139,588 | |
Cash and cash equivalents at end of period | 213,850 | 35,102 | 320,516 | |
Cash paid during the period for: | ||||
Interest - net of amount capitalized | 324,456 | 243,745 | 241,436 | |
Income taxes | 156,605 | 89,124 | (242,420) | |
Noncash Capital Contribution from Parent | 0 | (267,826) | 0 | |
Entergy Mississippi [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 109,184 | 92,708 | 74,821 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 136,214 | 129,029 | 113,903 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 60,986 | 18,673 | 32,472 | |
Changes in working capital: | ||||
Receivables | (28,819) | 50,199 | (27,444) | |
Fuel inventory | 401 | (8,537) | 6,163 | |
Accounts payable | 33,733 | (26,682) | (14,618) | |
Prepaid taxes and taxes accrued | 20,579 | (10,104) | 318 | |
Interest accrued | 822 | (2,341) | 2,789 | |
Deferred fuel costs | (114,711) | 105,560 | 40,251 | |
Other working capital accounts | (5,222) | (663) | 17,567 | |
Changes in provisions for estimated losses | 6,378 | (2,080) | 14,468 | |
Changes in other regulatory assets | (3,626) | 39,582 | (36,875) | |
Changes in pensions and other postretirement liabilities | (10,648) | (14,939) | 68,434 | |
Other | 7,009 | 1,874 | 11,214 | |
Net cash flow provided by operating activities | 212,280 | 372,279 | 303,463 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (310,356) | (235,894) | (179,544) | |
Allowance for equity funds used during construction | 5,801 | 3,095 | 2,380 | |
Change in money pool receivable - net | 15,335 | (25,286) | (644) | |
Proceeds from insurance | 0 | 12,932 | 0 | |
Other | (224) | 26 | 43 | |
Net cash flow used in investing activities | (289,444) | (245,127) | (177,765) | |
Proceeds from the issuance of: | ||||
Long-term debt | 623,812 | 0 | 98,668 | |
Retirement of long-term debt | (562,400) | 0 | (95,000) | |
Payments for Repurchase of Redeemable Preferred Stock | (30,000) | 0 | 0 | |
Change in money pool payable - net | 0 | 0 | (3,536) | |
Dividends paid: | ||||
Common stock | (24,000) | (40,000) | (61,400) | |
Preferred stock | (2,755) | (2,828) | (2,828) | |
Other | 3,736 | (352) | 0 | |
Net cash flow provided by (used in) financing activities | 8,393 | (43,180) | (64,096) | |
Net increase (decrease) in cash and cash equivalents | (68,771) | 83,972 | 61,602 | |
Cash and cash equivalents at beginning of period | 145,605 | 61,633 | 31 | |
Cash and cash equivalents at end of period | 76,834 | 145,605 | 61,633 | |
Cash paid during the period for: | ||||
Interest - net of amount capitalized | 53,693 | 57,576 | 51,509 | |
Income taxes | (12,487) | 61,333 | 19,650 | |
Entergy New Orleans [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 48,849 | 44,925 | 31,030 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 51,737 | 43,205 | 45,426 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 140,283 | 22,180 | 24,380 | |
Changes in working capital: | ||||
Receivables | (3,888) | 7,878 | 21,098 | |
Fuel inventory | 71 | 1,104 | (17) | |
Accounts payable | 15,434 | 2,738 | (7,702) | |
Interest accrued | 534 | 1,270 | (63) | |
Deferred fuel costs | (33,839) | (182) | 5,409 | |
Other working capital accounts | 2,480 | (2,995) | (18,030) | |
Changes in provisions for estimated losses | 4,326 | 58,310 | 10,877 | |
Changes in other regulatory assets | (2,784) | (70,471) | (41,517) | |
Changes in pensions and other postretirement liabilities | (6,859) | (18,831) | 29,942 | |
Other | (11,133) | 15,937 | (11,900) | |
Net cash flow provided by operating activities | 205,211 | 105,068 | 88,933 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (90,512) | (91,928) | (70,903) | |
Allowance for equity funds used during construction | 1,178 | 1,404 | 1,750 | |
Payment for purchase of plant | (237,335) | 0 | 0 | |
Investment in affiliates | (38) | 0 | 0 | |
Payments To Storm Reserve Escrow Account | (438) | (68,886) | (7,525) | |
Receipts from storm reserve escrow account | 3 | 5,922 | 0 | |
Changes in securitization account | 2,882 | (4,620) | 0 | |
Change in money pool receivable - net | 1,579 | (15,352) | 4,295 | |
Net cash flow used in investing activities | (322,681) | (173,460) | (72,383) | |
Proceeds from the issuance of: | ||||
Long-term debt | 240,604 | 95,367 | 0 | |
Retirement of long-term debt | (132,526) | 0 | 0 | |
Repayment of long-term payable due to Entergy Louisiana | (4,973) | (59,610) | 0 | |
Proceeds from Contributions from Parent | 47,750 | 87,500 | 0 | |
Dividends paid: | ||||
Common stock | (18,720) | (7,250) | (6,000) | |
Preferred stock | (965) | (965) | (965) | |
Other | 492 | (163) | (685) | |
Net cash flow provided by (used in) financing activities | 131,662 | 114,879 | (7,650) | |
Net increase (decrease) in cash and cash equivalents | 14,192 | 46,487 | 8,900 | |
Cash and cash equivalents at beginning of period | 88,876 | 42,389 | 33,489 | |
Cash and cash equivalents at end of period | 103,068 | 88,876 | 42,389 | |
Cash paid during the period for: | ||||
Interest - net of amount capitalized | 19,317 | 14,951 | 15,877 | |
Income taxes | (85,962) | 8,110 | 4,871 | |
Entergy Texas [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 107,538 | 69,625 | 74,804 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 107,026 | 102,410 | 99,609 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 20,794 | (23,292) | 2,829 | |
Changes in working capital: | ||||
Receivables | (9,300) | 21,443 | 24,318 | |
Fuel inventory | 9,765 | 2,960 | 5,433 | |
Accounts payable | (22,462) | (16,913) | (19,854) | |
Prepaid taxes and taxes accrued | 10,018 | 3,484 | 57,484 | |
Interest accrued | (3,229) | (551) | (1,489) | |
Deferred fuel costs | 29,419 | 36,985 | (15,954) | |
Other working capital accounts | (3,354) | 2,468 | 9,045 | |
Changes in provisions for estimated losses | (1,735) | (2,899) | 3,139 | |
Changes in other regulatory assets | 74,389 | 125,133 | 2,809 | |
Changes in pensions and other postretirement liabilities | (10,204) | (33,474) | 59,725 | |
Other | (2,064) | (3,111) | 13,266 | |
Net cash flow provided by operating activities | 306,601 | 284,268 | 315,164 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (337,963) | (320,408) | (195,794) | |
Allowance for equity funds used during construction | 7,743 | 5,751 | 2,981 | |
Changes in securitization account | 710 | (942) | 292 | |
Change in money pool receivable - net | (681) | 306 | 5,981 | |
Net cash flow used in investing activities | (330,191) | (315,293) | (186,540) | |
Proceeds from the issuance of: | ||||
Long-term debt | 123,502 | 246,607 | 131,163 | |
Retirement of long-term debt | (68,593) | (265,734) | (213,450) | |
Change in money pool payable - net | (22,068) | 22,068 | 0 | |
Dividends paid: | ||||
Common stock | 0 | 0 | (70,000) | |
Other | (5,252) | (175) | 7,616 | |
Net cash flow provided by (used in) financing activities | 27,589 | 2,766 | (144,671) | |
Net increase (decrease) in cash and cash equivalents | 3,999 | (28,259) | (16,047) | |
Cash and cash equivalents at beginning of period | 2,182 | 30,441 | 46,488 | |
Cash and cash equivalents at end of period | 6,181 | 2,182 | 30,441 | |
Cash paid during the period for: | ||||
Interest - net of amount capitalized | 88,489 | 83,290 | 85,695 | |
Income taxes | 28,523 | 60,359 | (2,653) | |
System Energy [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 96,744 | 111,318 | 96,334 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 224,879 | 270,514 | 254,199 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 99,531 | 200,797 | 79,835 | |
Changes in working capital: | ||||
Receivables | (15,846) | 5,879 | 37,345 | |
Accounts payable | 2,720 | (352) | (6,372) | |
Prepaid taxes and taxes accrued | (6,555) | (32,594) | 12,146 | |
Interest accrued | (134) | (19,013) | 21,371 | |
Other working capital accounts | (15,470) | 13,576 | (11,688) | |
Changes in other regulatory assets | (58,279) | (4,565) | (64,262) | |
Changes in pensions and other postretirement liabilities | 5,586 | (16,888) | 49,741 | |
Other | 8,763 | (26,136) | (40,384) | |
Net cash flow provided by operating activities | 341,939 | 502,536 | 428,265 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (88,037) | (70,358) | (63,774) | |
Allowance for equity funds used during construction | 7,944 | 8,494 | 5,069 | |
Nuclear fuel purchases | (151,068) | (64,977) | (181,209) | |
Proceeds from sale of nuclear fuel | 11,467 | 57,681 | 61,076 | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 15,806 | 0 | 0 | |
Proceeds from nuclear decommissioning trust fund sales | 499,252 | 390,371 | 392,872 | |
Investment in nuclear decommissioning trust funds | (534,083) | (421,220) | (424,814) | |
Change in money pool receivable - net | 6,117 | (37,553) | 6,850 | |
Net cash flow used in investing activities | (232,602) | (137,562) | (203,930) | |
Proceeds from the issuance of: | ||||
Retirement of long-term debt | (22,002) | (136,310) | (46,743) | |
Changes in credit borrowings and commercial paper - net | 66,893 | (20,404) | 20,404 | |
Dividends paid: | ||||
Common stock | (139,000) | (200,750) | (101,930) | |
Other | (26) | (28) | (29) | |
Net cash flow provided by (used in) financing activities | (94,135) | (357,492) | (128,298) | |
Net increase (decrease) in cash and cash equivalents | 15,202 | 7,482 | 96,037 | |
Cash and cash equivalents at beginning of period | 230,661 | 223,179 | 127,142 | |
Cash and cash equivalents at end of period | 245,863 | 230,661 | 223,179 | |
Cash paid during the period for: | ||||
Interest - net of amount capitalized | 36,152 | 47,864 | 27,834 | |
Income taxes | $ (23,565) | $ (114,092) | $ (10,065) | |
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Cash and cash equivalents: | |||
Cash | $ 129,579 | $ 63,497 | |
Temporary cash investments | 1,058,265 | 1,287,464 | |
Total cash and cash equivalents | 1,187,844 | 1,350,961 | $ 1,422,026 |
Accounts receivable: | |||
Customer | 654,995 | 608,491 | |
Allowance for doubtful accounts | (11,924) | (39,895) | |
Other | 158,419 | 178,364 | |
Accrued unbilled revenues | 368,677 | 321,940 | |
Total accounts receivable | 1,170,167 | 1,068,900 | |
Deferred fuel costs | 108,465 | 0 | |
Fuel inventory - at average cost | 179,600 | 217,810 | |
Materials and supplies - at average cost | 698,523 | 873,357 | |
Deferred nuclear refueling outage costs | 146,221 | 211,512 | |
Prepayments and other | 193,448 | 344,872 | |
TOTAL | 3,684,268 | 4,067,412 | |
OTHER PROPERTY AND INVESTMENTS | |||
Investment in affiliates - at equity | 198 | 4,341 | |
Decommissioning trust funds | 5,723,897 | 5,349,953 | |
Non-utility property - at cost (less accumulated depreciation) | 233,641 | 219,999 | |
Other | 469,664 | 468,704 | |
TOTAL | 6,427,400 | 6,042,997 | |
PROPERTY, PLANT, AND EQUIPMENT | |||
Electric | 45,191,216 | 44,467,159 | |
Property under capital lease | 619,527 | 952,465 | |
Natural gas | 413,224 | 392,032 | |
Construction work in progress | 1,378,180 | 1,456,735 | |
Nuclear fuel | 1,037,899 | 1,345,422 | |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 48,640,046 | 48,613,813 | |
Less - accumulated depreciation and amortization | 20,718,639 | 20,789,452 | |
PROPERTY, PLANT AND EQUIPMENT - NET | 27,921,407 | 27,824,361 | |
Regulatory assets: | |||
Regulatory asset for income taxes - net | 761,280 | 775,528 | |
Other regulatory assets | 4,769,913 | 4,704,796 | |
Deferred fuel costs | 239,100 | 238,902 | |
Goodwill | 377,172 | 377,172 | |
Accumulated deferred income taxes | 117,885 | 54,903 | |
Other | 1,606,009 | 561,610 | |
TOTAL | 7,871,359 | 6,712,911 | |
TOTAL ASSETS | 45,904,434 | 44,647,681 | |
CURRENT LIABILITIES | |||
Currently maturing long-term debt | 364,900 | 214,374 | |
Notes payable | 415,011 | 494,348 | |
Accounts payable | 1,285,577 | 1,071,798 | |
Customer deposits | 403,311 | 419,407 | |
Taxes accrued | 181,114 | 210,077 | |
Interest accrued | 187,229 | 194,565 | |
Deferred fuel costs | 102,753 | 235,986 | |
Obligations under capital leases | 2,423 | 2,709 | |
Pension and other postretirement liabilities | 76,942 | 62,513 | |
Other | 180,836 | 184,181 | |
TOTAL | 3,200,096 | 3,089,958 | |
NON-CURRENT LIABILITIES | |||
Accumulated deferred income taxes and taxes accrued | 7,495,290 | 8,306,865 | |
Accumulated deferred investment tax credits | 227,147 | 234,300 | |
Obligations under capital leases | 24,582 | 27,001 | |
Other regulatory liabilities | 1,572,929 | 1,414,898 | |
Decommissioning trust fund | 5,992,476 | 4,790,187 | |
Accumulated provisions | 481,636 | 460,727 | |
Pension and other postretirement liabilities | 3,036,010 | 3,187,357 | |
Long-term debt | 14,467,655 | 13,111,556 | |
Other | 1,121,619 | 449,856 | |
TOTAL | 34,419,344 | 31,982,747 | |
Commitments and Contingencies | |||
Subsidiaries’ preferred stock without sinking fund | 203,185 | 318,185 | |
COMMON EQUITY | |||
Common stock | 2,548 | 2,548 | |
Paid-in capital | 5,417,245 | 5,403,758 | |
Retained earnings | 8,195,571 | 9,393,913 | |
Accumulated other comprehensive income (loss) | (34,971) | 8,951 | (42,307) |
Less - treasury stock, at cost (76,681,936 shares in 2013 and 76,945,239 shares in 2012) | 5,498,584 | 5,552,379 | |
TOTAL | 8,081,809 | 9,256,791 | |
TOTAL | 8,081,809 | 9,256,791 | 10,101,725 |
TOTAL LIABILITIES AND EQUITY | 45,904,434 | 44,647,681 | |
Entergy Arkansas [Member] | |||
Cash and cash equivalents: | |||
Cash | 20,174 | 9,066 | |
Temporary cash investments | 335 | 69 | |
Total cash and cash equivalents | 20,509 | 9,135 | 218,505 |
Securitization recovery trust account | 4,140 | 4,204 | |
Accounts receivable: | |||
Customer | 102,229 | 108,636 | |
Allowance for doubtful accounts | (1,211) | (34,226) | |
Associated companies | 35,286 | 32,987 | |
Other | 58,153 | 84,216 | |
Accrued unbilled revenues | 100,193 | 73,583 | |
Total accounts receivable | 294,650 | 265,196 | |
Deferred fuel costs | 96,690 | 0 | |
Fuel inventory - at average cost | 32,760 | 62,689 | |
Materials and supplies - at average cost | 182,600 | 169,919 | |
Deferred nuclear refueling outage costs | 81,313 | 67,834 | |
Prepaid taxes | 0 | 30,291 | |
Prepayments and other | 14,293 | 15,145 | |
TOTAL | 726,955 | 624,413 | |
OTHER PROPERTY AND INVESTMENTS | |||
Decommissioning trust funds | 834,735 | 771,313 | |
Other | 7,912 | 12,895 | |
TOTAL | 842,647 | 784,208 | |
PROPERTY, PLANT, AND EQUIPMENT | |||
Electric | 10,488,060 | 9,536,802 | |
Property under capital lease | 716 | 844 | |
Construction work in progress | 304,073 | 388,075 | |
Nuclear fuel | 307,352 | 286,341 | |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 11,100,201 | 10,212,062 | |
Less - accumulated depreciation and amortization | 4,635,885 | 4,349,809 | |
PROPERTY, PLANT AND EQUIPMENT - NET | 6,464,316 | 5,862,253 | |
Regulatory assets: | |||
Regulatory asset for income taxes - net | 62,646 | 61,438 | |
Other regulatory assets | 1,428,029 | 1,333,773 | |
Deferred fuel costs | 66,898 | 66,700 | |
Other | 14,626 | 14,989 | |
TOTAL | 1,572,199 | 1,476,900 | |
Deferred fuel cost noncurrent | 66,900 | 66,700 | |
TOTAL ASSETS | 9,606,117 | 8,747,774 | |
CURRENT LIABILITIES | |||
Currently maturing long-term debt | 114,700 | 55,000 | |
Short-term borrowings | 0 | 11,690 | |
Associated companies accounts payable | 239,711 | 110,464 | |
Other | 185,153 | 177,758 | |
Customer deposits | 97,512 | 118,340 | |
Taxes accrued | 7,194 | 0 | |
Interest accrued | 16,580 | 19,883 | |
Deferred fuel costs | 0 | 8,853 | |
Other | 36,557 | 45,219 | |
TOTAL | 697,407 | 547,207 | |
NON-CURRENT LIABILITIES | |||
Accumulated deferred income taxes and taxes accrued | 2,186,623 | 1,982,812 | |
Accumulated deferred investment tax credits | 35,305 | 36,506 | |
Other regulatory liabilities | 305,907 | 242,913 | |
Decommissioning trust fund | 924,353 | 872,346 | |
Accumulated provisions | 18,682 | 5,552 | |
Pension and other postretirement liabilities | 424,234 | 459,153 | |
Long-term debt | 2,715,085 | 2,574,839 | |
Other | 13,854 | 18,438 | |
TOTAL | 6,624,043 | 6,192,559 | |
Commitments and Contingencies | |||
Subsidiaries’ preferred stock without sinking fund | 31,350 | 116,350 | |
COMMON EQUITY | |||
Common stock | 470 | 470 | |
Paid-in capital | 790,243 | 588,493 | |
Retained earnings | 1,462,604 | 1,302,695 | |
TOTAL | 2,253,317 | 1,891,658 | 1,824,237 |
TOTAL LIABILITIES AND EQUITY | 9,606,117 | 8,747,774 | |
Entergy Louisiana [Member] | |||
Cash and cash equivalents: | |||
Cash | 49,972 | 348 | |
Temporary cash investments | 163,878 | 34,754 | |
Total cash and cash equivalents | 213,850 | 35,102 | 320,516 |
Accounts receivable: | |||
Customer | 213,517 | 179,051 | |
Allowance for doubtful accounts | (6,277) | (4,209) | |
Associated companies | 155,794 | 94,418 | |
Other | 54,186 | 56,793 | |
Accrued unbilled revenues | 159,176 | 143,079 | |
Total accounts receivable | 576,396 | 469,132 | |
Fuel inventory - at average cost | 50,738 | 48,045 | |
Materials and supplies - at average cost | 294,421 | 282,688 | |
Deferred nuclear refueling outage costs | 22,535 | 66,984 | |
Prepaid taxes | 110,104 | 0 | |
Prepayments and other | 41,687 | 28,294 | |
TOTAL | 1,309,731 | 930,245 | |
OTHER PROPERTY AND INVESTMENTS | |||
Investment in affiliates - at equity | 1,390,587 | 1,390,587 | |
Decommissioning trust funds | 1,140,707 | 1,042,293 | |
Non-utility property - at cost (less accumulated depreciation) | 217,494 | 206,293 | |
Storm reserve escrow account | 291,485 | 290,422 | |
Other | 28,844 | 14,776 | |
TOTAL | 3,069,117 | 2,944,371 | |
PROPERTY, PLANT, AND EQUIPMENT | |||
Electric | 18,827,532 | 17,629,077 | |
Property under capital lease | 0 | 341,514 | |
Natural gas | 172,816 | 159,252 | |
Construction work in progress | 670,201 | 420,874 | |
Nuclear fuel | 249,807 | 386,524 | |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 19,920,356 | 18,937,241 | |
Less - accumulated depreciation and amortization | 8,420,596 | 8,302,774 | |
PROPERTY, PLANT AND EQUIPMENT - NET | 11,499,760 | 10,634,467 | |
Regulatory assets: | |||
Regulatory asset for income taxes - net | 470,480 | 478,243 | |
Other regulatory assets | 1,168,058 | 1,217,874 | |
Deferred fuel costs | 168,122 | 168,122 | |
Other | 16,003 | 14,125 | |
TOTAL | 1,822,663 | 1,878,364 | |
Deferred fuel cost noncurrent | 168,100 | 168,100 | |
TOTAL ASSETS | 17,701,271 | 16,387,447 | |
CURRENT LIABILITIES | |||
Currently maturing long-term debt | 200,198 | 29,372 | |
Short-term borrowings | 3,794 | 60,356 | |
Associated companies accounts payable | 82,106 | 165,419 | |
Other | 358,741 | 276,280 | |
Customer deposits | 148,601 | 146,555 | |
Taxes accrued | 0 | 125,142 | |
Interest accrued | 75,598 | 74,380 | |
Deferred fuel costs | 48,211 | 65,234 | |
Other | 80,013 | 79,982 | |
TOTAL | 997,262 | 1,022,720 | |
NON-CURRENT LIABILITIES | |||
Accumulated deferred income taxes and taxes accrued | 2,691,118 | 2,506,956 | |
Accumulated deferred investment tax credits | 126,741 | 131,760 | |
Regulatory liability for income taxes - net | 0 | 2,473 | |
Other regulatory liabilities | 880,974 | 818,623 | |
Decommissioning trust fund | 1,082,685 | 1,027,862 | |
Accumulated provisions | 310,772 | 310,282 | |
Pension and other postretirement liabilities | 780,278 | 833,185 | |
Long-term debt | 5,612,593 | 4,806,790 | |
Long-term payables of associated companies | 0 | 1,073 | |
Other | 137,039 | 188,411 | |
TOTAL | 11,622,200 | 10,627,415 | |
Commitments and Contingencies | |||
COMMON EQUITY | |||
Accumulated other comprehensive income (loss) | (48,442) | (56,412) | |
Members' Equity | 5,130,251 | 4,793,724 | |
TOTAL | 5,081,809 | 4,737,312 | 4,346,987 |
TOTAL LIABILITIES AND EQUITY | 17,701,271 | 16,387,447 | |
Entergy Mississippi [Member] | |||
Cash and cash equivalents: | |||
Cash | 16 | 1,426 | |
Temporary cash investments | 76,818 | 144,179 | |
Total cash and cash equivalents | 76,834 | 145,605 | 61,633 |
Accounts receivable: | |||
Customer | 51,218 | 56,685 | |
Allowance for doubtful accounts | (549) | (718) | |
Associated companies | 45,973 | 34,964 | |
Other | 12,006 | 8,276 | |
Accrued unbilled revenues | 51,327 | 47,284 | |
Total accounts receivable | 159,975 | 146,491 | |
Deferred fuel costs | 6,957 | 0 | |
Fuel inventory - at average cost | 50,872 | 51,273 | |
Materials and supplies - at average cost | 41,146 | 39,491 | |
Prepayments and other | 8,873 | 5,184 | |
TOTAL | 344,657 | 388,044 | |
OTHER PROPERTY AND INVESTMENTS | |||
Non-utility property - at cost (less accumulated depreciation) | 4,608 | 4,625 | |
Escrow accounts | 31,783 | 41,726 | |
TOTAL | 36,391 | 46,351 | |
PROPERTY, PLANT, AND EQUIPMENT | |||
Electric | 4,321,214 | 4,083,933 | |
Property under capital lease | 1,590 | 2,942 | |
Construction work in progress | 118,182 | 114,067 | |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 4,440,986 | 4,200,942 | |
Less - accumulated depreciation and amortization | 1,602,711 | 1,534,522 | |
PROPERTY, PLANT AND EQUIPMENT - NET | 2,838,275 | 2,666,420 | |
Regulatory assets: | |||
Regulatory asset for income taxes - net | 38,284 | 45,790 | |
Other regulatory assets | 342,213 | 328,681 | |
Other | 2,320 | 2,121 | |
TOTAL | 382,817 | 376,592 | |
TOTAL ASSETS | 3,602,140 | 3,477,407 | |
CURRENT LIABILITIES | |||
Currently maturing long-term debt | 0 | 125,000 | |
Associated companies accounts payable | 43,647 | 38,496 | |
Other | 80,227 | 51,502 | |
Customer deposits | 84,112 | 81,583 | |
Taxes accrued | 64,040 | 43,461 | |
Interest accrued | 21,653 | 20,831 | |
Deferred fuel costs | 0 | 107,754 | |
Other | 9,554 | 22,754 | |
TOTAL | 303,233 | 491,381 | |
NON-CURRENT LIABILITIES | |||
Accumulated deferred income taxes and taxes accrued | 861,331 | 810,635 | |
Accumulated deferred investment tax credits | 8,667 | 4,645 | |
Decommissioning trust fund | 8,722 | 8,252 | |
Accumulated provisions | 54,440 | 48,062 | |
Pension and other postretirement liabilities | 109,551 | 120,217 | |
Long-term debt | 1,120,916 | 920,085 | |
Other | 20,108 | 11,699 | |
TOTAL | 2,183,735 | 1,923,595 | |
Commitments and Contingencies | |||
Subsidiaries’ preferred stock without sinking fund | 20,381 | 50,381 | |
COMMON EQUITY | |||
Common stock | 199,326 | 199,326 | |
Paid-in capital | 167 | (690) | |
Retained earnings | 895,298 | 813,414 | |
TOTAL | 1,094,791 | 1,012,050 | 962,170 |
TOTAL LIABILITIES AND EQUITY | 3,602,140 | 3,477,407 | |
Entergy New Orleans [Member] | |||
Cash and cash equivalents: | |||
Cash | 28 | 1,068 | |
Temporary cash investments | 103,040 | 87,808 | |
Total cash and cash equivalents | 103,068 | 88,876 | 42,389 |
Securitization recovery trust account | 1,738 | 4,620 | |
Accounts receivable: | |||
Customer | 43,536 | 34,627 | |
Allowance for doubtful accounts | (3,059) | (268) | |
Associated companies | 16,811 | 23,248 | |
Other | 5,926 | 3,753 | |
Accrued unbilled revenues | 18,254 | 17,799 | |
Total accounts receivable | 81,468 | 79,159 | |
Deferred fuel costs | 4,818 | 0 | |
Fuel inventory - at average cost | 1,841 | 1,912 | |
Materials and supplies - at average cost | 8,416 | 13,244 | |
Prepayments and other | 10,966 | 10,263 | |
TOTAL | 212,315 | 198,074 | |
OTHER PROPERTY AND INVESTMENTS | |||
Non-utility property - at cost (less accumulated depreciation) | 1,016 | 1,016 | |
Storm reserve escrow account | 81,437 | 81,002 | |
Other | 7,160 | 3 | |
TOTAL | 89,613 | 82,021 | |
PROPERTY, PLANT, AND EQUIPMENT | |||
Electric | 1,258,934 | 1,051,239 | |
Natural gas | 240,408 | 232,780 | |
Construction work in progress | 24,975 | 29,027 | |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 1,524,317 | 1,313,046 | |
Less - accumulated depreciation and amortization | 604,825 | 648,081 | |
PROPERTY, PLANT AND EQUIPMENT - NET | 919,492 | 664,965 | |
Regulatory assets: | |||
Other regulatory assets | 268,106 | 265,322 | |
Deferred fuel costs | 4,080 | 4,080 | |
Other | 963 | 682 | |
TOTAL | 273,149 | 270,084 | |
Deferred fuel cost noncurrent | 4,100 | 4,100 | |
TOTAL ASSETS | 1,494,569 | 1,215,144 | |
CURRENT LIABILITIES | |||
Currently maturing long-term debt | 2,104 | 4,973 | |
Current payable due Entergy Louisiana | 2,104 | 4,973 | |
Associated companies accounts payable | 39,260 | 37,467 | |
Other | 35,920 | 21,471 | |
Customer deposits | 28,667 | 28,392 | |
Interest accrued | 5,443 | 4,909 | |
Deferred fuel costs | 0 | 29,021 | |
Other | 11,415 | 6,216 | |
TOTAL | 122,809 | 132,449 | |
NON-CURRENT LIABILITIES | |||
Accumulated deferred income taxes and taxes accrued | 334,953 | 214,061 | |
Accumulated deferred investment tax credits | 622 | 753 | |
Regulatory liability for income taxes - net | 9,074 | 13,199 | |
Decommissioning trust fund | 2,875 | 2,687 | |
Accumulated provisions | 88,513 | 84,187 | |
Pension and other postretirement liabilities | 36,750 | 43,609 | |
Long-term debt | 428,467 | 317,380 | |
Gas system rebuild insurance proceeds | 447 | 12,788 | |
Non-Current Payable due Entergy Louisiana | 18,423 | 20,527 | |
Other | 4,910 | 3,692 | |
TOTAL | 925,034 | 712,883 | |
Commitments and Contingencies | |||
Subsidiaries’ preferred stock without sinking fund | 19,780 | 19,780 | |
COMMON EQUITY | |||
Common stock | 33,744 | 33,744 | |
Paid-in capital | 171,544 | 123,794 | |
Retained earnings | 221,658 | 192,494 | |
TOTAL | 426,946 | 350,032 | 228,025 |
TOTAL LIABILITIES AND EQUITY | 1,494,569 | 1,215,144 | |
Entergy Texas [Member] | |||
Cash and cash equivalents: | |||
Cash | 1,216 | 2,153 | |
Temporary cash investments | 4,965 | 29 | |
Total cash and cash equivalents | 6,181 | 2,182 | 30,441 |
Securitization recovery trust account | 37,451 | 38,161 | |
Accounts receivable: | |||
Customer | 71,803 | 61,870 | |
Allowance for doubtful accounts | (828) | (474) | |
Associated companies | 39,447 | 42,279 | |
Other | 14,756 | 11,054 | |
Accrued unbilled revenues | 39,727 | 40,195 | |
Total accounts receivable | 164,905 | 154,924 | |
Fuel inventory - at average cost | 37,177 | 46,942 | |
Materials and supplies - at average cost | 36,631 | 34,994 | |
Prepayments and other | 18,599 | 17,975 | |
TOTAL | 300,944 | 295,178 | |
OTHER PROPERTY AND INVESTMENTS | |||
Investment in affiliates - at equity | 600 | 620 | |
Non-utility property - at cost (less accumulated depreciation) | 376 | 376 | |
Other | 18,801 | 20,186 | |
TOTAL | 19,777 | 21,182 | |
PROPERTY, PLANT, AND EQUIPMENT | |||
Electric | 4,274,069 | 3,923,100 | |
Construction work in progress | 111,227 | 210,964 | |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 4,385,296 | 4,134,064 | |
Less - accumulated depreciation and amortization | 1,526,057 | 1,477,529 | |
PROPERTY, PLANT AND EQUIPMENT - NET | 2,859,239 | 2,656,535 | |
Regulatory assets: | |||
Regulatory asset for income taxes - net | 105,816 | 107,499 | |
Other regulatory assets | 740,156 | 812,862 | |
Other | 7,149 | 5,326 | |
TOTAL | 853,121 | 925,687 | |
TOTAL ASSETS | 4,033,081 | 3,898,582 | |
CURRENT LIABILITIES | |||
Currently maturing long-term debt | 0 | 0 | |
Associated companies accounts payable | 47,867 | 106,065 | |
Other | 77,342 | 87,421 | |
Customer deposits | 44,419 | 44,537 | |
Taxes accrued | 15,351 | 5,333 | |
Interest accrued | 25,977 | 29,206 | |
Deferred fuel costs | 54,543 | 25,124 | |
Other | 9,388 | 10,363 | |
TOTAL | 274,887 | 308,049 | |
NON-CURRENT LIABILITIES | |||
Accumulated deferred income taxes and taxes accrued | 1,027,647 | 1,006,834 | |
Accumulated deferred investment tax credits | 12,934 | 13,835 | |
Other regulatory liabilities | 8,502 | 6,396 | |
Decommissioning trust fund | 6,470 | 6,124 | |
Accumulated provisions | 7,584 | 9,319 | |
Pension and other postretirement liabilities | 67,313 | 77,517 | |
Long-term debt | 1,508,407 | 1,451,967 | |
Other | 50,343 | 57,085 | |
TOTAL | 2,689,200 | 2,629,077 | |
Commitments and Contingencies | |||
COMMON EQUITY | |||
Common stock | 49,452 | 49,452 | |
Paid-in capital | 481,994 | 481,994 | |
Retained earnings | 537,548 | 430,010 | |
TOTAL | 1,068,994 | 961,456 | 891,831 |
TOTAL LIABILITIES AND EQUITY | 4,033,081 | 3,898,582 | |
System Energy [Member] | |||
Cash and cash equivalents: | |||
Cash | 786 | 8,681 | |
Temporary cash investments | 245,077 | 221,980 | |
Total cash and cash equivalents | 245,863 | 230,661 | 223,179 |
Accounts receivable: | |||
Associated companies | 104,390 | 93,724 | |
Other | 3,637 | 4,574 | |
Total accounts receivable | 108,027 | 98,298 | |
Materials and supplies - at average cost | 82,469 | 87,366 | |
Deferred nuclear refueling outage costs | 24,729 | 5,605 | |
Prepayments and other | 20,111 | 11,282 | |
TOTAL | 481,199 | 433,212 | |
OTHER PROPERTY AND INVESTMENTS | |||
Decommissioning trust funds | 780,496 | 701,460 | |
TOTAL | 780,496 | 701,460 | |
PROPERTY, PLANT, AND EQUIPMENT | |||
Electric | 4,331,668 | 4,253,949 | |
Property under capital lease | 585,084 | 575,027 | |
Construction work in progress | 43,888 | 92,546 | |
Nuclear fuel | 259,635 | 183,706 | |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 5,220,275 | 5,105,228 | |
Less - accumulated depreciation and amortization | 3,063,249 | 2,961,842 | |
PROPERTY, PLANT AND EQUIPMENT - NET | 2,157,026 | 2,143,386 | |
Regulatory assets: | |||
Regulatory asset for income taxes - net | 93,127 | 98,230 | |
Other regulatory assets | 411,212 | 347,830 | |
Other | 4,652 | 4,757 | |
TOTAL | 508,991 | 450,817 | |
TOTAL ASSETS | 3,927,712 | 3,728,875 | |
CURRENT LIABILITIES | |||
Currently maturing long-term debt | 50,003 | 2 | |
Short-term borrowings | 66,893 | 0 | |
Associated companies accounts payable | 5,843 | 7,391 | |
Other | 50,558 | 34,010 | |
Interest accrued | 14,049 | 14,183 | |
Other | 2,957 | 1,926 | |
TOTAL | 190,303 | 57,512 | |
NON-CURRENT LIABILITIES | |||
Accumulated deferred income taxes and taxes accrued | 1,112,865 | 1,019,075 | |
Accumulated deferred investment tax credits | 41,663 | 45,451 | |
Other regulatory liabilities | 370,862 | 337,424 | |
Decommissioning trust fund | 854,202 | 803,405 | |
Pension and other postretirement liabilities | 117,850 | 112,264 | |
Long-term debt | 501,129 | 572,665 | |
Other | 15 | 0 | |
TOTAL | 2,998,586 | 2,890,284 | |
Commitments and Contingencies | |||
COMMON EQUITY | |||
Common stock | 679,350 | 719,350 | |
Retained earnings | 59,473 | 61,729 | |
TOTAL | 738,823 | 781,079 | $ 870,511 |
TOTAL LIABILITIES AND EQUITY | $ 3,927,712 | $ 3,728,875 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securitization property | $ 600,996 | $ 714,044 |
Securitization bonds | $ 661,175 | $ 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 | 75,623,363 | 76,363,763 |
Entergy Arkansas [Member] | ||
Securitization property | $ 41,164 | $ 54,450 |
Securitization bonds | $ 48,139 | $ 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 | $ 92,951 | $ 114,701 |
Securitization bonds | $ 99,217 | $ 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 | $ 82,272 | $ 91,599 |
Securitization bonds | $ 84,776 | $ 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 | $ 384,609 | $ 453,317 |
Securitization bonds | $ 429,043 | $ 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] | Common Stock [Member] | Treasury Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member]Common Stock [Member] | Entergy Arkansas [Member]Paid In Capital [Member] | Entergy Arkansas [Member]Retained Earnings [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member]Preferred Membership Interest | Entergy Louisiana [Member]Member's Equity [Member] | Entergy Louisiana [Member]Accumulated Other Comprehensive Income [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member]Common Stock [Member] | Entergy Mississippi [Member]Capital Stock Expense and Other [Member] | Entergy Mississippi [Member]Retained Earnings [Member] | Entergy New Orleans [Member] | Entergy New Orleans [Member]Common Stock [Member] | Entergy New Orleans [Member]Paid In Capital [Member] | Entergy New Orleans [Member]Retained Earnings [Member] | Entergy Texas [Member] | Entergy Texas [Member]Common Stock [Member] | Entergy Texas [Member]Paid In Capital [Member] | Entergy Texas [Member]Retained Earnings [Member] | System Energy [Member] | System Energy [Member]Common Stock [Member] | System Energy [Member]Retained Earnings [Member] | |||||||
Payments for Repurchase of Redeemable Preferred Stock | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2013 | $ 9,726,466 | $ 94,000 | $ 2,548 | $ (5,533,942) | $ 5,368,131 | $ 9,825,053 | $ (29,324) | 1,719,718 | $ 470 | $ 588,471 | $ 1,130,777 | $ 4,436,629 | $ 110,000 | $ 4,364,466 | $ (37,837) | 951,577 | $ 199,326 | $ (690) | $ 752,941 | $ 206,283 | $ 33,744 | $ 36,294 | $ 136,245 | $ 887,027 | $ 49,452 | $ 481,994 | $ 355,581 | $ 876,107 | $ 789,350 | $ 86,757 | |||||||
Consolidated net income (loss) | 960,257 | [1] | 19,536 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 940,721 | [1] | 0 | [1] | 121,392 | 0 | 0 | 121,392 | 446,022 | 0 | 446,022 | 0 | 74,821 | 0 | 0 | 74,821 | 31,030 | 0 | 0 | 31,030 | 74,804 | 0 | 0 | 74,804 | 96,334 | 0 | 96,334 |
Net income attributable to Entergy Louisiana | (2,323) | 0 | 0 | (2,323) | |||||||||||||||||||||||||||||||||
Proceeds from Contributions from Parent | 0 | 0 | |||||||||||||||||||||||||||||||||||
Member contribution | 1,052 | 0 | 1,052 | 0 | |||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (12,983) | 0 | 0 | 0 | 0 | 0 | (12,983) | (41,386) | 0 | 0 | (41,386) | ||||||||||||||||||||||||||
Payments for Repurchase of Common Stock | (183,271) | 0 | 0 | (183,271) | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | ||||||||||||||||||||||||||||||||||||
Noncash Capital Contribution from Parent | 0 | ||||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (19,536) | [1] | (19,536) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (6,873) | 0 | 0 | (6,873) | (7,796) | 0 | (7,796) | 0 | (2,828) | 0 | 0 | (2,828) | (965) | 0 | 0 | (965) | |||||||
Common stock issuances related to stock plans | 226,909 | 0 | 0 | 219,687 | 7,222 | 0 | 0 | ||||||||||||||||||||||||||||||
Common stock dividends declared | (596,117) | 0 | 0 | 0 | 0 | (596,117) | 0 | (10,000) | 0 | 0 | (10,000) | (166,901) | 0 | (166,901) | 0 | (61,400) | 0 | 0 | (61,400) | (6,000) | 0 | 0 | (6,000) | (70,000) | 0 | 0 | (70,000) | (101,930) | 0 | (101,930) | |||||||
Preferred dividend requirements of subsidiaries | (19,536) | [1] | (19,536) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (6,873) | 0 | 0 | (6,873) | (7,796) | 0 | (7,796) | 0 | (2,828) | 0 | 0 | (2,828) | (965) | 0 | 0 | (965) | |||||||
Distribution to parent | (320,601) | 0 | (320,601) | 0 | |||||||||||||||||||||||||||||||||
Other | (32) | 0 | (32) | 0 | |||||||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2014 | 10,101,725 | 94,000 | 2,548 | (5,497,526) | 5,375,353 | 10,169,657 | (42,307) | 1,824,237 | 470 | 588,471 | 1,235,296 | 4,346,987 | 110,000 | 4,316,210 | (79,223) | 962,170 | 199,326 | (690) | 763,534 | 228,025 | 33,744 | 36,294 | 157,987 | 891,831 | 49,452 | 481,994 | 360,385 | 870,511 | 789,350 | 81,161 | |||||||
Payments for Repurchase of Redeemable Preferred Stock | 0 | 0 | |||||||||||||||||||||||||||||||||||
Consolidated net income (loss) | (156,734) | [1] | 19,828 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (176,562) | [1] | 0 | [1] | 74,272 | 0 | 0 | 74,272 | 446,639 | 0 | 446,639 | 0 | 92,708 | 0 | 0 | 92,708 | 44,925 | 0 | 0 | 44,925 | 69,625 | 0 | 0 | 69,625 | 111,318 | 0 | 111,318 |
Net income attributable to Entergy Louisiana | (2,203) | 0 | 0 | (2,203) | |||||||||||||||||||||||||||||||||
Proceeds from Contributions from Parent | 0 | 87,500 | 0 | 87,500 | 0 | ||||||||||||||||||||||||||||||||
Preferred Stock Redemptions | 110,000 | 110,000 | 0 | 0 | |||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 51,258 | 0 | 0 | 0 | 0 | 0 | 51,258 | 22,811 | 0 | 0 | 22,811 | ||||||||||||||||||||||||||
Payments for Repurchase of Common Stock | (99,807) | 0 | 0 | (99,807) | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (94,285) | (94,000) | 0 | 0 | 0 | (285) | 0 | ||||||||||||||||||||||||||||||
Noncash Capital Contribution from Parent | 267,826 | 0 | 267,826 | 0 | |||||||||||||||||||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (19,828) | [1] | (19,828) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (6,873) | 0 | 0 | (6,873) | (5,737) | 0 | (5,737) | 0 | (2,828) | 0 | 0 | (2,828) | (965) | 0 | 0 | (965) | |||||||
Common stock issuances related to stock plans | 73,359 | 0 | 0 | 44,954 | 28,405 | 0 | 0 | ||||||||||||||||||||||||||||||
Common stock dividends declared | (598,897) | 0 | 0 | 0 | 0 | (598,897) | 0 | (40,000) | 0 | 0 | (40,000) | (7,250) | 0 | 0 | (7,250) | (200,750) | (70,000) | (130,750) | |||||||||||||||||||
Preferred dividend requirements of subsidiaries | (19,828) | [1] | (19,828) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (6,873) | 0 | 0 | (6,873) | (5,737) | 0 | (5,737) | 0 | (2,828) | 0 | 0 | (2,828) | (965) | 0 | 0 | (965) | |||||||
Distribution to parent | (226,000) | 0 | (226,000) | 0 | |||||||||||||||||||||||||||||||||
Other | 22 | 0 | 22 | 0 | (5,214) | 0 | (5,214) | 0 | |||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2015 | 9,256,791 | 0 | 2,548 | (5,552,379) | 5,403,758 | 9,393,913 | 8,951 | 1,891,658 | 470 | 588,493 | 1,302,695 | 4,737,312 | 0 | 4,793,724 | (56,412) | 1,012,050 | 199,326 | (690) | 813,414 | 350,032 | 33,744 | 123,794 | 192,494 | 961,456 | 49,452 | 481,994 | 430,010 | 781,079 | 719,350 | 61,729 | |||||||
Payments for Repurchase of Redeemable Preferred Stock | 85,283 | 30,000 | |||||||||||||||||||||||||||||||||||
Consolidated net income (loss) | (564,503) | [1] | 19,115 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (583,618) | [1] | 0 | [1] | 167,212 | 0 | 0 | 167,212 | 622,047 | 0 | 622,047 | 0 | 109,184 | 0 | 0 | 109,184 | 48,849 | 0 | 0 | 48,849 | 107,538 | 0 | 0 | 107,538 | 96,744 | 0 | 96,744 |
Proceeds from Contributions from Parent | 200,000 | 0 | 200,000 | 0 | 47,750 | 0 | 47,750 | 0 | |||||||||||||||||||||||||||||
Preferred Stock Redemptions | (2,889) | 0 | 0 | 0 | 0 | (2,889) | 0 | (283) | 0 | 1,750 | (2,033) | 0 | 0 | (857) | (857) | ||||||||||||||||||||||
Other comprehensive income (loss) | (43,922) | 0 | 0 | 0 | 0 | 0 | (43,922) | 7,970 | 0 | 0 | 7,970 | ||||||||||||||||||||||||||
Payments for Repurchase of Common Stock | 0 | ||||||||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (115,283) | ||||||||||||||||||||||||||||||||||||
Noncash Capital Contribution from Parent | 0 | ||||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (19,115) | [1] | (19,115) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (5,270) | 0 | 0 | (5,270) | (2,443) | 0 | 0 | (2,443) | (965) | 0 | 0 | (965) | |||||||||||
Common stock issuances related to stock plans | 67,282 | 0 | 0 | 53,795 | 13,487 | 0 | 0 | ||||||||||||||||||||||||||||||
Common stock dividends declared | 611,835 | 0 | 0 | 0 | 0 | 611,835 | 0 | (24,000) | 0 | 0 | (24,000) | (18,720) | 0 | 0 | (18,720) | (139,000) | (40,000) | (99,000) | |||||||||||||||||||
Preferred dividend requirements of subsidiaries | (19,115) | [1] | (19,115) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (5,270) | 0 | 0 | (5,270) | (2,443) | 0 | 0 | (2,443) | (965) | 0 | 0 | (965) | |||||||||||
Distribution to parent | (285,500) | 0 | (285,500) | 0 | |||||||||||||||||||||||||||||||||
Other | (20) | 0 | (20) | 0 | |||||||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2016 | $ 8,081,809 | $ 0 | $ 2,548 | $ (5,498,584) | $ 5,417,245 | $ 8,195,571 | $ (34,971) | $ 2,253,317 | $ 470 | $ 790,243 | $ 1,462,604 | $ 5,081,809 | $ 0 | $ 5,130,251 | $ (48,442) | $ 1,094,791 | $ 199,326 | $ 167 | $ 895,298 | $ 426,946 | $ 33,744 | $ 171,544 | $ 221,658 | $ 1,068,994 | $ 49,452 | $ 481,994 | $ 537,548 | $ 738,823 | $ 679,350 | $ 59,473 | |||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Statements Of Cha9
Consolidated Statements Of Changes In Equity (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | |||
Preferred dividends on subsidiaries' preferred stock | $ 19.1 | $ 14.9 | $ 12.9 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries. As required by generally accepted accounting principles in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K. The Registrant Subsidiaries and many other Entergy subsidiaries also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership in |
Entergy Arkansas [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries. As required by generally accepted accounting principles in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K. The Registrant Subsidiaries and many other Entergy subsidiaries also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership in |
Entergy Louisiana [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries. As required by generally accepted accounting principles in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K. The Registrant Subsidiaries and many other Entergy subsidiaries also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership in |
Entergy Mississippi [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries. As required by generally accepted accounting principles in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K. The Registrant Subsidiaries and many other Entergy subsidiaries also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership in |
Entergy New Orleans [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries. As required by generally accepted accounting principles in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K. The Registrant Subsidiaries and many other Entergy subsidiaries also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership in |
Entergy Texas [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries. As required by generally accepted accounting principles in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K. The Registrant Subsidiaries and many other Entergy subsidiaries also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership in |
System Energy [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries. As required by generally accepted accounting principles in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K. The Registrant Subsidiaries and many other Entergy subsidiaries also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership in |
Rate And Regulatory Matters
Rate And Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2016 and 2015 : Other Regulatory Assets Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 (a) Offset by related asset. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months . In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In June 2014 the APSC suspended the annual redetermination of the production cost allocation rider and scheduled a hearing in September 2014. Upon a joint motion of the parties, the APSC canceled the September 2014 hearing and in January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and rates will be effective through June 2017. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve -month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In October 2005 the APSC initiated an investigation into Entergy Arkansas’s interim energy cost recovery rate. The investigation focused on Entergy Arkansas’s 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries. In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas’s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006. In January 2007 the APSC issued an order in its review of the energy cost rate. The APSC found that Entergy Arkansas failed to maintain an adequate coal inventory level going into the summer of 2005 and that Entergy Arkansas should be responsible for any incremental energy costs that resulted from two outages caused by employee and contractor error. The coal plant generation curtailments were caused by railroad delivery problems and Entergy Arkansas resolved litigation with the railroad regarding the delivery problems. The APSC staff was directed to perform an analysis with Entergy Arkansas’s assistance to determine the additional fuel and purchased energy costs associated with these findings and file the analysis within sixty days of the order. After a final determination of the costs is made by the APSC, Entergy Arkansas will be directed to refund that amount with interest to its customers as a credit on the energy cost recovery rider. Entergy Arkansas requested rehearing of the order. In February 2010 the APSC denied Entergy Arkansas’s request for rehearing, and held a hearing in September 2010 to determine the amount of damages, if any, that should be assessed against Entergy Arkansas. A decision is pending. Entergy Arkansas expects the amount of damages, if any, to have an immaterial effect on its results of operations, financial position, or cash flows. The APSC also established a separate docket to consider the resolved railroad litigation, and in February 2010 it established a procedural schedule that concluded with testimony through September 2010. The testimony was filed, and the APSC will decide the case based on the record in the proceeding. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit 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 on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue is outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. A procedural schedule has been established for this new docket, including an evidentiary hearing in June 2017. 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. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognizes the dry cask storage recovery method issue will be addressed in the separate proceeding opened by the LPSC, and provides for a refund of $5 million to legacy Entergy Gulf States Louisiana customers and resolves all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. 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 clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel balance of $60.4 million as of March 31, 2014. In May 2014, Entergy Mississippi filed for an interim adjustment under its energy cost recovery rider. The interim adjustment proposed a net energy cost factor designed to collect over a six-month period the under-recovered deferred fuel balance as of March 31, 2014 and also reflected a natural gas price of $4.50 per MMBtu. In May 2014, Entergy Mississippi and the Public Utilities Staff entered into a joint stipulation in which Entergy Mississippi agreed to a revised net energy cost factor that reflected the proposed interim adjustment with a reduction in costs recovered through the energy cost recovery rider associated with the suspension of the DOE nuclear waste storage fee. In June 2014 the MPSC approved the joint stipulation and allowed Entergy Mississippi’s interim adjustment. In November 2014, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. Due to lower gas prices and a lower deferred fuel balance, the redetermined annual factor was a decrease from the revised interim net energy cost factor. In January 2015 the MPSC approved the redetermined annual factor effective January 30, 2015. 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, 2016 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. In November 2016, 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 an over-recovery of less than $2 million as of September 30, 2016. In January 2017 the MPSC approved the annual factor effective with February 2017 bills. Also in January 2017 the MPSC certified to the Mississippi Legislature the audit reports of its independent auditors for the fuel year ending September 30, 2016. In its order, the MPSC expressly reserved the right to review and determine the recoverability of any and all purchased power expenditures made during fiscal year 2016. 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. In September 2016 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 |
Entergy Arkansas [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2016 and 2015 : Other Regulatory Assets Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 (a) Offset by related asset. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months . In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In June 2014 the APSC suspended the annual redetermination of the production cost allocation rider and scheduled a hearing in September 2014. Upon a joint motion of the parties, the APSC canceled the September 2014 hearing and in January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and rates will be effective through June 2017. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve -month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In October 2005 the APSC initiated an investigation into Entergy Arkansas’s interim energy cost recovery rate. The investigation focused on Entergy Arkansas’s 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries. In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas’s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006. In January 2007 the APSC issued an order in its review of the energy cost rate. The APSC found that Entergy Arkansas failed to maintain an adequate coal inventory level going into the summer of 2005 and that Entergy Arkansas should be responsible for any incremental energy costs that resulted from two outages caused by employee and contractor error. The coal plant generation curtailments were caused by railroad delivery problems and Entergy Arkansas resolved litigation with the railroad regarding the delivery problems. The APSC staff was directed to perform an analysis with Entergy Arkansas’s assistance to determine the additional fuel and purchased energy costs associated with these findings and file the analysis within sixty days of the order. After a final determination of the costs is made by the APSC, Entergy Arkansas will be directed to refund that amount with interest to its customers as a credit on the energy cost recovery rider. Entergy Arkansas requested rehearing of the order. In February 2010 the APSC denied Entergy Arkansas’s request for rehearing, and held a hearing in September 2010 to determine the amount of damages, if any, that should be assessed against Entergy Arkansas. A decision is pending. Entergy Arkansas expects the amount of damages, if any, to have an immaterial effect on its results of operations, financial position, or cash flows. The APSC also established a separate docket to consider the resolved railroad litigation, and in February 2010 it established a procedural schedule that concluded with testimony through September 2010. The testimony was filed, and the APSC will decide the case based on the record in the proceeding. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit 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 on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue is outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. A procedural schedule has been established for this new docket, including an evidentiary hearing in June 2017. 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. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognizes the dry cask storage recovery method issue will be addressed in the separate proceeding opened by the LPSC, and provides for a refund of $5 million to legacy Entergy Gulf States Louisiana customers and resolves all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. 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 clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel balance of $60.4 million as of March 31, 2014. In May 2014, Entergy Mississippi filed for an interim adjustment under its energy cost recovery rider. The interim adjustment proposed a net energy cost factor designed to collect over a six-month period the under-recovered deferred fuel balance as of March 31, 2014 and also reflected a natural gas price of $4.50 per MMBtu. In May 2014, Entergy Mississippi and the Public Utilities Staff entered into a joint stipulation in which Entergy Mississippi agreed to a revised net energy cost factor that reflected the proposed interim adjustment with a reduction in costs recovered through the energy cost recovery rider associated with the suspension of the DOE nuclear waste storage fee. In June 2014 the MPSC approved the joint stipulation and allowed Entergy Mississippi’s interim adjustment. In November 2014, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. Due to lower gas prices and a lower deferred fuel balance, the redetermined annual factor was a decrease from the revised interim net energy cost factor. In January 2015 the MPSC approved the redetermined annual factor effective January 30, 2015. 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, 2016 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. In November 2016, 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 an over-recovery of less than $2 million as of September 30, 2016. In January 2017 the MPSC approved the annual factor effective with February 2017 bills. Also in January 2017 the MPSC certified to the Mississippi Legislature the audit reports of its independent auditors for the fuel year ending September 30, 2016. In its order, the MPSC expressly reserved the right to review and determine the recoverability of any and all purchased power expenditures made during fiscal year 2016. 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. In September 2016 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 |
Entergy Louisiana [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2016 and 2015 : Other Regulatory Assets Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 (a) Offset by related asset. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months . In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In June 2014 the APSC suspended the annual redetermination of the production cost allocation rider and scheduled a hearing in September 2014. Upon a joint motion of the parties, the APSC canceled the September 2014 hearing and in January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and rates will be effective through June 2017. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve -month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In October 2005 the APSC initiated an investigation into Entergy Arkansas’s interim energy cost recovery rate. The investigation focused on Entergy Arkansas’s 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries. In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas’s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006. In January 2007 the APSC issued an order in its review of the energy cost rate. The APSC found that Entergy Arkansas failed to maintain an adequate coal inventory level going into the summer of 2005 and that Entergy Arkansas should be responsible for any incremental energy costs that resulted from two outages caused by employee and contractor error. The coal plant generation curtailments were caused by railroad delivery problems and Entergy Arkansas resolved litigation with the railroad regarding the delivery problems. The APSC staff was directed to perform an analysis with Entergy Arkansas’s assistance to determine the additional fuel and purchased energy costs associated with these findings and file the analysis within sixty days of the order. After a final determination of the costs is made by the APSC, Entergy Arkansas will be directed to refund that amount with interest to its customers as a credit on the energy cost recovery rider. Entergy Arkansas requested rehearing of the order. In February 2010 the APSC denied Entergy Arkansas’s request for rehearing, and held a hearing in September 2010 to determine the amount of damages, if any, that should be assessed against Entergy Arkansas. A decision is pending. Entergy Arkansas expects the amount of damages, if any, to have an immaterial effect on its results of operations, financial position, or cash flows. The APSC also established a separate docket to consider the resolved railroad litigation, and in February 2010 it established a procedural schedule that concluded with testimony through September 2010. The testimony was filed, and the APSC will decide the case based on the record in the proceeding. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit 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 on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue is outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. A procedural schedule has been established for this new docket, including an evidentiary hearing in June 2017. 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. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognizes the dry cask storage recovery method issue will be addressed in the separate proceeding opened by the LPSC, and provides for a refund of $5 million to legacy Entergy Gulf States Louisiana customers and resolves all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. 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 clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel balance of $60.4 million as of March 31, 2014. In May 2014, Entergy Mississippi filed for an interim adjustment under its energy cost recovery rider. The interim adjustment proposed a net energy cost factor designed to collect over a six-month period the under-recovered deferred fuel balance as of March 31, 2014 and also reflected a natural gas price of $4.50 per MMBtu. In May 2014, Entergy Mississippi and the Public Utilities Staff entered into a joint stipulation in which Entergy Mississippi agreed to a revised net energy cost factor that reflected the proposed interim adjustment with a reduction in costs recovered through the energy cost recovery rider associated with the suspension of the DOE nuclear waste storage fee. In June 2014 the MPSC approved the joint stipulation and allowed Entergy Mississippi’s interim adjustment. In November 2014, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. Due to lower gas prices and a lower deferred fuel balance, the redetermined annual factor was a decrease from the revised interim net energy cost factor. In January 2015 the MPSC approved the redetermined annual factor effective January 30, 2015. 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, 2016 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. In November 2016, 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 an over-recovery of less than $2 million as of September 30, 2016. In January 2017 the MPSC approved the annual factor effective with February 2017 bills. Also in January 2017 the MPSC certified to the Mississippi Legislature the audit reports of its independent auditors for the fuel year ending September 30, 2016. In its order, the MPSC expressly reserved the right to review and determine the recoverability of any and all purchased power expenditures made during fiscal year 2016. 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. In September 2016 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 |
Entergy Mississippi [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2016 and 2015 : Other Regulatory Assets Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 (a) Offset by related asset. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months . In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In June 2014 the APSC suspended the annual redetermination of the production cost allocation rider and scheduled a hearing in September 2014. Upon a joint motion of the parties, the APSC canceled the September 2014 hearing and in January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and rates will be effective through June 2017. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve -month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In October 2005 the APSC initiated an investigation into Entergy Arkansas’s interim energy cost recovery rate. The investigation focused on Entergy Arkansas’s 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries. In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas’s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006. In January 2007 the APSC issued an order in its review of the energy cost rate. The APSC found that Entergy Arkansas failed to maintain an adequate coal inventory level going into the summer of 2005 and that Entergy Arkansas should be responsible for any incremental energy costs that resulted from two outages caused by employee and contractor error. The coal plant generation curtailments were caused by railroad delivery problems and Entergy Arkansas resolved litigation with the railroad regarding the delivery problems. The APSC staff was directed to perform an analysis with Entergy Arkansas’s assistance to determine the additional fuel and purchased energy costs associated with these findings and file the analysis within sixty days of the order. After a final determination of the costs is made by the APSC, Entergy Arkansas will be directed to refund that amount with interest to its customers as a credit on the energy cost recovery rider. Entergy Arkansas requested rehearing of the order. In February 2010 the APSC denied Entergy Arkansas’s request for rehearing, and held a hearing in September 2010 to determine the amount of damages, if any, that should be assessed against Entergy Arkansas. A decision is pending. Entergy Arkansas expects the amount of damages, if any, to have an immaterial effect on its results of operations, financial position, or cash flows. The APSC also established a separate docket to consider the resolved railroad litigation, and in February 2010 it established a procedural schedule that concluded with testimony through September 2010. The testimony was filed, and the APSC will decide the case based on the record in the proceeding. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit 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 on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue is outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. A procedural schedule has been established for this new docket, including an evidentiary hearing in June 2017. 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. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognizes the dry cask storage recovery method issue will be addressed in the separate proceeding opened by the LPSC, and provides for a refund of $5 million to legacy Entergy Gulf States Louisiana customers and resolves all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. 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 clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel balance of $60.4 million as of March 31, 2014. In May 2014, Entergy Mississippi filed for an interim adjustment under its energy cost recovery rider. The interim adjustment proposed a net energy cost factor designed to collect over a six-month period the under-recovered deferred fuel balance as of March 31, 2014 and also reflected a natural gas price of $4.50 per MMBtu. In May 2014, Entergy Mississippi and the Public Utilities Staff entered into a joint stipulation in which Entergy Mississippi agreed to a revised net energy cost factor that reflected the proposed interim adjustment with a reduction in costs recovered through the energy cost recovery rider associated with the suspension of the DOE nuclear waste storage fee. In June 2014 the MPSC approved the joint stipulation and allowed Entergy Mississippi’s interim adjustment. In November 2014, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. Due to lower gas prices and a lower deferred fuel balance, the redetermined annual factor was a decrease from the revised interim net energy cost factor. In January 2015 the MPSC approved the redetermined annual factor effective January 30, 2015. 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, 2016 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. In November 2016, 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 an over-recovery of less than $2 million as of September 30, 2016. In January 2017 the MPSC approved the annual factor effective with February 2017 bills. Also in January 2017 the MPSC certified to the Mississippi Legislature the audit reports of its independent auditors for the fuel year ending September 30, 2016. In its order, the MPSC expressly reserved the right to review and determine the recoverability of any and all purchased power expenditures made during fiscal year 2016. 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. In September 2016 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 |
Entergy New Orleans [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2016 and 2015 : Other Regulatory Assets Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 (a) Offset by related asset. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months . In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In June 2014 the APSC suspended the annual redetermination of the production cost allocation rider and scheduled a hearing in September 2014. Upon a joint motion of the parties, the APSC canceled the September 2014 hearing and in January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and rates will be effective through June 2017. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve -month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In October 2005 the APSC initiated an investigation into Entergy Arkansas’s interim energy cost recovery rate. The investigation focused on Entergy Arkansas’s 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries. In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas’s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006. In January 2007 the APSC issued an order in its review of the energy cost rate. The APSC found that Entergy Arkansas failed to maintain an adequate coal inventory level going into the summer of 2005 and that Entergy Arkansas should be responsible for any incremental energy costs that resulted from two outages caused by employee and contractor error. The coal plant generation curtailments were caused by railroad delivery problems and Entergy Arkansas resolved litigation with the railroad regarding the delivery problems. The APSC staff was directed to perform an analysis with Entergy Arkansas’s assistance to determine the additional fuel and purchased energy costs associated with these findings and file the analysis within sixty days of the order. After a final determination of the costs is made by the APSC, Entergy Arkansas will be directed to refund that amount with interest to its customers as a credit on the energy cost recovery rider. Entergy Arkansas requested rehearing of the order. In February 2010 the APSC denied Entergy Arkansas’s request for rehearing, and held a hearing in September 2010 to determine the amount of damages, if any, that should be assessed against Entergy Arkansas. A decision is pending. Entergy Arkansas expects the amount of damages, if any, to have an immaterial effect on its results of operations, financial position, or cash flows. The APSC also established a separate docket to consider the resolved railroad litigation, and in February 2010 it established a procedural schedule that concluded with testimony through September 2010. The testimony was filed, and the APSC will decide the case based on the record in the proceeding. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit 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 on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue is outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. A procedural schedule has been established for this new docket, including an evidentiary hearing in June 2017. 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. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognizes the dry cask storage recovery method issue will be addressed in the separate proceeding opened by the LPSC, and provides for a refund of $5 million to legacy Entergy Gulf States Louisiana customers and resolves all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. 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 clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel balance of $60.4 million as of March 31, 2014. In May 2014, Entergy Mississippi filed for an interim adjustment under its energy cost recovery rider. The interim adjustment proposed a net energy cost factor designed to collect over a six-month period the under-recovered deferred fuel balance as of March 31, 2014 and also reflected a natural gas price of $4.50 per MMBtu. In May 2014, Entergy Mississippi and the Public Utilities Staff entered into a joint stipulation in which Entergy Mississippi agreed to a revised net energy cost factor that reflected the proposed interim adjustment with a reduction in costs recovered through the energy cost recovery rider associated with the suspension of the DOE nuclear waste storage fee. In June 2014 the MPSC approved the joint stipulation and allowed Entergy Mississippi’s interim adjustment. In November 2014, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. Due to lower gas prices and a lower deferred fuel balance, the redetermined annual factor was a decrease from the revised interim net energy cost factor. In January 2015 the MPSC approved the redetermined annual factor effective January 30, 2015. 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, 2016 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. In November 2016, 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 an over-recovery of less than $2 million as of September 30, 2016. In January 2017 the MPSC approved the annual factor effective with February 2017 bills. Also in January 2017 the MPSC certified to the Mississippi Legislature the audit reports of its independent auditors for the fuel year ending September 30, 2016. In its order, the MPSC expressly reserved the right to review and determine the recoverability of any and all purchased power expenditures made during fiscal year 2016. 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. In September 2016 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 |
Entergy Texas [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2016 and 2015 : Other Regulatory Assets Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 (a) Offset by related asset. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months . In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In June 2014 the APSC suspended the annual redetermination of the production cost allocation rider and scheduled a hearing in September 2014. Upon a joint motion of the parties, the APSC canceled the September 2014 hearing and in January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and rates will be effective through June 2017. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve -month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In October 2005 the APSC initiated an investigation into Entergy Arkansas’s interim energy cost recovery rate. The investigation focused on Entergy Arkansas’s 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries. In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas’s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006. In January 2007 the APSC issued an order in its review of the energy cost rate. The APSC found that Entergy Arkansas failed to maintain an adequate coal inventory level going into the summer of 2005 and that Entergy Arkansas should be responsible for any incremental energy costs that resulted from two outages caused by employee and contractor error. The coal plant generation curtailments were caused by railroad delivery problems and Entergy Arkansas resolved litigation with the railroad regarding the delivery problems. The APSC staff was directed to perform an analysis with Entergy Arkansas’s assistance to determine the additional fuel and purchased energy costs associated with these findings and file the analysis within sixty days of the order. After a final determination of the costs is made by the APSC, Entergy Arkansas will be directed to refund that amount with interest to its customers as a credit on the energy cost recovery rider. Entergy Arkansas requested rehearing of the order. In February 2010 the APSC denied Entergy Arkansas’s request for rehearing, and held a hearing in September 2010 to determine the amount of damages, if any, that should be assessed against Entergy Arkansas. A decision is pending. Entergy Arkansas expects the amount of damages, if any, to have an immaterial effect on its results of operations, financial position, or cash flows. The APSC also established a separate docket to consider the resolved railroad litigation, and in February 2010 it established a procedural schedule that concluded with testimony through September 2010. The testimony was filed, and the APSC will decide the case based on the record in the proceeding. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit 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 on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue is outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. A procedural schedule has been established for this new docket, including an evidentiary hearing in June 2017. 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. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognizes the dry cask storage recovery method issue will be addressed in the separate proceeding opened by the LPSC, and provides for a refund of $5 million to legacy Entergy Gulf States Louisiana customers and resolves all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. 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 clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel balance of $60.4 million as of March 31, 2014. In May 2014, Entergy Mississippi filed for an interim adjustment under its energy cost recovery rider. The interim adjustment proposed a net energy cost factor designed to collect over a six-month period the under-recovered deferred fuel balance as of March 31, 2014 and also reflected a natural gas price of $4.50 per MMBtu. In May 2014, Entergy Mississippi and the Public Utilities Staff entered into a joint stipulation in which Entergy Mississippi agreed to a revised net energy cost factor that reflected the proposed interim adjustment with a reduction in costs recovered through the energy cost recovery rider associated with the suspension of the DOE nuclear waste storage fee. In June 2014 the MPSC approved the joint stipulation and allowed Entergy Mississippi’s interim adjustment. In November 2014, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. Due to lower gas prices and a lower deferred fuel balance, the redetermined annual factor was a decrease from the revised interim net energy cost factor. In January 2015 the MPSC approved the redetermined annual factor effective January 30, 2015. 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, 2016 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. In November 2016, 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 an over-recovery of less than $2 million as of September 30, 2016. In January 2017 the MPSC approved the annual factor effective with February 2017 bills. Also in January 2017 the MPSC certified to the Mississippi Legislature the audit reports of its independent auditors for the fuel year ending September 30, 2016. In its order, the MPSC expressly reserved the right to review and determine the recoverability of any and all purchased power expenditures made during fiscal year 2016. 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. In September 2016 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 |
System Energy [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2016 and 2015 : Other Regulatory Assets Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 (a) Offset by related asset. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months . In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In June 2014 the APSC suspended the annual redetermination of the production cost allocation rider and scheduled a hearing in September 2014. Upon a joint motion of the parties, the APSC canceled the September 2014 hearing and in January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and rates will be effective through June 2017. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve -month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In October 2005 the APSC initiated an investigation into Entergy Arkansas’s interim energy cost recovery rate. The investigation focused on Entergy Arkansas’s 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries. In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas’s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006. In January 2007 the APSC issued an order in its review of the energy cost rate. The APSC found that Entergy Arkansas failed to maintain an adequate coal inventory level going into the summer of 2005 and that Entergy Arkansas should be responsible for any incremental energy costs that resulted from two outages caused by employee and contractor error. The coal plant generation curtailments were caused by railroad delivery problems and Entergy Arkansas resolved litigation with the railroad regarding the delivery problems. The APSC staff was directed to perform an analysis with Entergy Arkansas’s assistance to determine the additional fuel and purchased energy costs associated with these findings and file the analysis within sixty days of the order. After a final determination of the costs is made by the APSC, Entergy Arkansas will be directed to refund that amount with interest to its customers as a credit on the energy cost recovery rider. Entergy Arkansas requested rehearing of the order. In February 2010 the APSC denied Entergy Arkansas’s request for rehearing, and held a hearing in September 2010 to determine the amount of damages, if any, that should be assessed against Entergy Arkansas. A decision is pending. Entergy Arkansas expects the amount of damages, if any, to have an immaterial effect on its results of operations, financial position, or cash flows. The APSC also established a separate docket to consider the resolved railroad litigation, and in February 2010 it established a procedural schedule that concluded with testimony through September 2010. The testimony was filed, and the APSC will decide the case based on the record in the proceeding. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit 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 on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue is outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. A procedural schedule has been established for this new docket, including an evidentiary hearing in June 2017. 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. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognizes the dry cask storage recovery method issue will be addressed in the separate proceeding opened by the LPSC, and provides for a refund of $5 million to legacy Entergy Gulf States Louisiana customers and resolves all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. 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 clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel balance of $60.4 million as of March 31, 2014. In May 2014, Entergy Mississippi filed for an interim adjustment under its energy cost recovery rider. The interim adjustment proposed a net energy cost factor designed to collect over a six-month period the under-recovered deferred fuel balance as of March 31, 2014 and also reflected a natural gas price of $4.50 per MMBtu. In May 2014, Entergy Mississippi and the Public Utilities Staff entered into a joint stipulation in which Entergy Mississippi agreed to a revised net energy cost factor that reflected the proposed interim adjustment with a reduction in costs recovered through the energy cost recovery rider associated with the suspension of the DOE nuclear waste storage fee. In June 2014 the MPSC approved the joint stipulation and allowed Entergy Mississippi’s interim adjustment. In November 2014, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. Due to lower gas prices and a lower deferred fuel balance, the redetermined annual factor was a decrease from the revised interim net energy cost factor. In January 2015 the MPSC approved the redetermined annual factor effective January 30, 2015. 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, 2016 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. In November 2016, 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 an over-recovery of less than $2 million as of September 30, 2016. In January 2017 the MPSC approved the annual factor effective with February 2017 bills. Also in January 2017 the MPSC certified to the Mississippi Legislature the audit reports of its independent auditors for the fuel year ending September 30, 2016. In its order, the MPSC expressly reserved the right to review and determine the recoverability of any and all purchased power expenditures made during fiscal year 2016. 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. In September 2016 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 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % (a) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (b) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss carryovers will not be utilized, valuation allowances of $62 million as of December 31, 2016 and $46 million as of December 31, 2015 have been provided on the deferred tax assets relating to these state net operating loss carryovers. Additionally, valuation allowances totaling $42.3 million as of December 31, 2016 and $45.5 million as of December 31, 2015 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,240 million , $955 million , and $516 million as of December 31, 2016 , 2015 , and 2014 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $2,670 million , $1,657 million , and $4,221 million as of December 31, 2016 , 2015 , and 2014 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2016 , 2015 , and 2014 accrued balance for the possible payment of interest is approximately $30 million , $27 million , and $127 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are completed for years before 2009. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012 the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its RAR for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. In October 2015 two of Entergy’s Louisiana utilities, Entergy Gulf States Louisiana and Entergy Louisiana, combined their businesses into a legal entity which is identified as Entergy Louisiana herein. The structure of the business combination generated both a permanent difference and a temporary difference under FASB ASC Topic 740. The permanent difference resulted from recognition of the Waterford 3 and River Bend decommissioning liabilities as part of the business combination. Recognition of such decommissioning liabilities required Entergy to also recognize a taxable gain. The taxable gain resulted in a temporary difference because the gain provided for an increase in tax basis. Entergy Louisiana maintained a carryover tax basis in the assets received; and, to the extent that the increase in tax basis will provide additional tax depreciation, Entergy recorded a deferred tax asset. Entergy Louisiana obtained the corresponding deferred tax asset in the business combination. The permanent tax benefit net of ancillary tax charges was approximately $334 million . Consistent with the terms of the stipulated settlement in the business combination proceeding, electric customers of Entergy Louisiana will realize customer credits associated with the business combination. Accordingly, in October 2015, Entergy recorded a regulatory liability of $107 million ( $66 million net-of-tax) which partially offsets the effect of the aforementioned deferred tax asset. The deferred tax asset and the regulatory liability, net-of-tax, increased Entergy Louisiana’s member’s equity by $268 million . See Note 2 to the financial statements for further discussion of the business combination. In the fourth quarter 2015, System Energy and Entergy Louisiana adopted a new method of accounting for income tax return purposes in which the companies’ nuclear decommissioning costs will be treated as production costs of electricity includable in cost of goods sold. The new method results in a reduction of taxable income of $1.2 billion for System Energy and $2.2 billion for Entergy Louisiana. The Protecting Americans from Tax Hikes Act of 2015 was enacted in December 2015. The most significant provisions affecting Entergy and the Registrant Subsidiaries were a five-year extension of bonus depreciation and permanent extension of the research and experimentation tax credit. The effect of the bonus depreciation extension on 2015 increased Entergy’s tax net operating loss. 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 in the second quarter 2016. 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 . In 2016, Entergy Louisiana elected mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements, including Entergy Louisiana’s contract to purchase electricity from the Vidalia hydroelectric facility and from System Energy under the Unit Power Sales Agreement. The election resulted in a $2.2 billion deductible temporary difference. |
Entergy Arkansas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % (a) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (b) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss carryovers will not be utilized, valuation allowances of $62 million as of December 31, 2016 and $46 million as of December 31, 2015 have been provided on the deferred tax assets relating to these state net operating loss carryovers. Additionally, valuation allowances totaling $42.3 million as of December 31, 2016 and $45.5 million as of December 31, 2015 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,240 million , $955 million , and $516 million as of December 31, 2016 , 2015 , and 2014 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $2,670 million , $1,657 million , and $4,221 million as of December 31, 2016 , 2015 , and 2014 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2016 , 2015 , and 2014 accrued balance for the possible payment of interest is approximately $30 million , $27 million , and $127 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are completed for years before 2009. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012 the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its RAR for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. In October 2015 two of Entergy’s Louisiana utilities, Entergy Gulf States Louisiana and Entergy Louisiana, combined their businesses into a legal entity which is identified as Entergy Louisiana herein. The structure of the business combination generated both a permanent difference and a temporary difference under FASB ASC Topic 740. The permanent difference resulted from recognition of the Waterford 3 and River Bend decommissioning liabilities as part of the business combination. Recognition of such decommissioning liabilities required Entergy to also recognize a taxable gain. The taxable gain resulted in a temporary difference because the gain provided for an increase in tax basis. Entergy Louisiana maintained a carryover tax basis in the assets received; and, to the extent that the increase in tax basis will provide additional tax depreciation, Entergy recorded a deferred tax asset. Entergy Louisiana obtained the corresponding deferred tax asset in the business combination. The permanent tax benefit net of ancillary tax charges was approximately $334 million . Consistent with the terms of the stipulated settlement in the business combination proceeding, electric customers of Entergy Louisiana will realize customer credits associated with the business combination. Accordingly, in October 2015, Entergy recorded a regulatory liability of $107 million ( $66 million net-of-tax) which partially offsets the effect of the aforementioned deferred tax asset. The deferred tax asset and the regulatory liability, net-of-tax, increased Entergy Louisiana’s member’s equity by $268 million . See Note 2 to the financial statements for further discussion of the business combination. In the fourth quarter 2015, System Energy and Entergy Louisiana adopted a new method of accounting for income tax return purposes in which the companies’ nuclear decommissioning costs will be treated as production costs of electricity includable in cost of goods sold. The new method results in a reduction of taxable income of $1.2 billion for System Energy and $2.2 billion for Entergy Louisiana. The Protecting Americans from Tax Hikes Act of 2015 was enacted in December 2015. The most significant provisions affecting Entergy and the Registrant Subsidiaries were a five-year extension of bonus depreciation and permanent extension of the research and experimentation tax credit. The effect of the bonus depreciation extension on 2015 increased Entergy’s tax net operating loss. 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 in the second quarter 2016. 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 . In 2016, Entergy Louisiana elected mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements, including Entergy Louisiana’s contract to purchase electricity from the Vidalia hydroelectric facility and from System Energy under the Unit Power Sales Agreement. The election resulted in a $2.2 billion deductible temporary difference. |
Entergy Louisiana [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % (a) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (b) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss carryovers will not be utilized, valuation allowances of $62 million as of December 31, 2016 and $46 million as of December 31, 2015 have been provided on the deferred tax assets relating to these state net operating loss carryovers. Additionally, valuation allowances totaling $42.3 million as of December 31, 2016 and $45.5 million as of December 31, 2015 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,240 million , $955 million , and $516 million as of December 31, 2016 , 2015 , and 2014 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $2,670 million , $1,657 million , and $4,221 million as of December 31, 2016 , 2015 , and 2014 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2016 , 2015 , and 2014 accrued balance for the possible payment of interest is approximately $30 million , $27 million , and $127 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are completed for years before 2009. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012 the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its RAR for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. In October 2015 two of Entergy’s Louisiana utilities, Entergy Gulf States Louisiana and Entergy Louisiana, combined their businesses into a legal entity which is identified as Entergy Louisiana herein. The structure of the business combination generated both a permanent difference and a temporary difference under FASB ASC Topic 740. The permanent difference resulted from recognition of the Waterford 3 and River Bend decommissioning liabilities as part of the business combination. Recognition of such decommissioning liabilities required Entergy to also recognize a taxable gain. The taxable gain resulted in a temporary difference because the gain provided for an increase in tax basis. Entergy Louisiana maintained a carryover tax basis in the assets received; and, to the extent that the increase in tax basis will provide additional tax depreciation, Entergy recorded a deferred tax asset. Entergy Louisiana obtained the corresponding deferred tax asset in the business combination. The permanent tax benefit net of ancillary tax charges was approximately $334 million . Consistent with the terms of the stipulated settlement in the business combination proceeding, electric customers of Entergy Louisiana will realize customer credits associated with the business combination. Accordingly, in October 2015, Entergy recorded a regulatory liability of $107 million ( $66 million net-of-tax) which partially offsets the effect of the aforementioned deferred tax asset. The deferred tax asset and the regulatory liability, net-of-tax, increased Entergy Louisiana’s member’s equity by $268 million . See Note 2 to the financial statements for further discussion of the business combination. In the fourth quarter 2015, System Energy and Entergy Louisiana adopted a new method of accounting for income tax return purposes in which the companies’ nuclear decommissioning costs will be treated as production costs of electricity includable in cost of goods sold. The new method results in a reduction of taxable income of $1.2 billion for System Energy and $2.2 billion for Entergy Louisiana. The Protecting Americans from Tax Hikes Act of 2015 was enacted in December 2015. The most significant provisions affecting Entergy and the Registrant Subsidiaries were a five-year extension of bonus depreciation and permanent extension of the research and experimentation tax credit. The effect of the bonus depreciation extension on 2015 increased Entergy’s tax net operating loss. 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 in the second quarter 2016. 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 . In 2016, Entergy Louisiana elected mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements, including Entergy Louisiana’s contract to purchase electricity from the Vidalia hydroelectric facility and from System Energy under the Unit Power Sales Agreement. The election resulted in a $2.2 billion deductible temporary difference. |
Entergy Mississippi [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % (a) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (b) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss carryovers will not be utilized, valuation allowances of $62 million as of December 31, 2016 and $46 million as of December 31, 2015 have been provided on the deferred tax assets relating to these state net operating loss carryovers. Additionally, valuation allowances totaling $42.3 million as of December 31, 2016 and $45.5 million as of December 31, 2015 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,240 million , $955 million , and $516 million as of December 31, 2016 , 2015 , and 2014 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $2,670 million , $1,657 million , and $4,221 million as of December 31, 2016 , 2015 , and 2014 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2016 , 2015 , and 2014 accrued balance for the possible payment of interest is approximately $30 million , $27 million , and $127 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are completed for years before 2009. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012 the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its RAR for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. In October 2015 two of Entergy’s Louisiana utilities, Entergy Gulf States Louisiana and Entergy Louisiana, combined their businesses into a legal entity which is identified as Entergy Louisiana herein. The structure of the business combination generated both a permanent difference and a temporary difference under FASB ASC Topic 740. The permanent difference resulted from recognition of the Waterford 3 and River Bend decommissioning liabilities as part of the business combination. Recognition of such decommissioning liabilities required Entergy to also recognize a taxable gain. The taxable gain resulted in a temporary difference because the gain provided for an increase in tax basis. Entergy Louisiana maintained a carryover tax basis in the assets received; and, to the extent that the increase in tax basis will provide additional tax depreciation, Entergy recorded a deferred tax asset. Entergy Louisiana obtained the corresponding deferred tax asset in the business combination. The permanent tax benefit net of ancillary tax charges was approximately $334 million . Consistent with the terms of the stipulated settlement in the business combination proceeding, electric customers of Entergy Louisiana will realize customer credits associated with the business combination. Accordingly, in October 2015, Entergy recorded a regulatory liability of $107 million ( $66 million net-of-tax) which partially offsets the effect of the aforementioned deferred tax asset. The deferred tax asset and the regulatory liability, net-of-tax, increased Entergy Louisiana’s member’s equity by $268 million . See Note 2 to the financial statements for further discussion of the business combination. In the fourth quarter 2015, System Energy and Entergy Louisiana adopted a new method of accounting for income tax return purposes in which the companies’ nuclear decommissioning costs will be treated as production costs of electricity includable in cost of goods sold. The new method results in a reduction of taxable income of $1.2 billion for System Energy and $2.2 billion for Entergy Louisiana. The Protecting Americans from Tax Hikes Act of 2015 was enacted in December 2015. The most significant provisions affecting Entergy and the Registrant Subsidiaries were a five-year extension of bonus depreciation and permanent extension of the research and experimentation tax credit. The effect of the bonus depreciation extension on 2015 increased Entergy’s tax net operating loss. 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 in the second quarter 2016. 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 . In 2016, Entergy Louisiana elected mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements, including Entergy Louisiana’s contract to purchase electricity from the Vidalia hydroelectric facility and from System Energy under the Unit Power Sales Agreement. The election resulted in a $2.2 billion deductible temporary difference. |
Entergy New Orleans [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % (a) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (b) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss carryovers will not be utilized, valuation allowances of $62 million as of December 31, 2016 and $46 million as of December 31, 2015 have been provided on the deferred tax assets relating to these state net operating loss carryovers. Additionally, valuation allowances totaling $42.3 million as of December 31, 2016 and $45.5 million as of December 31, 2015 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,240 million , $955 million , and $516 million as of December 31, 2016 , 2015 , and 2014 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $2,670 million , $1,657 million , and $4,221 million as of December 31, 2016 , 2015 , and 2014 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2016 , 2015 , and 2014 accrued balance for the possible payment of interest is approximately $30 million , $27 million , and $127 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are completed for years before 2009. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012 the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its RAR for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. In October 2015 two of Entergy’s Louisiana utilities, Entergy Gulf States Louisiana and Entergy Louisiana, combined their businesses into a legal entity which is identified as Entergy Louisiana herein. The structure of the business combination generated both a permanent difference and a temporary difference under FASB ASC Topic 740. The permanent difference resulted from recognition of the Waterford 3 and River Bend decommissioning liabilities as part of the business combination. Recognition of such decommissioning liabilities required Entergy to also recognize a taxable gain. The taxable gain resulted in a temporary difference because the gain provided for an increase in tax basis. Entergy Louisiana maintained a carryover tax basis in the assets received; and, to the extent that the increase in tax basis will provide additional tax depreciation, Entergy recorded a deferred tax asset. Entergy Louisiana obtained the corresponding deferred tax asset in the business combination. The permanent tax benefit net of ancillary tax charges was approximately $334 million . Consistent with the terms of the stipulated settlement in the business combination proceeding, electric customers of Entergy Louisiana will realize customer credits associated with the business combination. Accordingly, in October 2015, Entergy recorded a regulatory liability of $107 million ( $66 million net-of-tax) which partially offsets the effect of the aforementioned deferred tax asset. The deferred tax asset and the regulatory liability, net-of-tax, increased Entergy Louisiana’s member’s equity by $268 million . See Note 2 to the financial statements for further discussion of the business combination. In the fourth quarter 2015, System Energy and Entergy Louisiana adopted a new method of accounting for income tax return purposes in which the companies’ nuclear decommissioning costs will be treated as production costs of electricity includable in cost of goods sold. The new method results in a reduction of taxable income of $1.2 billion for System Energy and $2.2 billion for Entergy Louisiana. The Protecting Americans from Tax Hikes Act of 2015 was enacted in December 2015. The most significant provisions affecting Entergy and the Registrant Subsidiaries were a five-year extension of bonus depreciation and permanent extension of the research and experimentation tax credit. The effect of the bonus depreciation extension on 2015 increased Entergy’s tax net operating loss. 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 in the second quarter 2016. 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 . In 2016, Entergy Louisiana elected mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements, including Entergy Louisiana’s contract to purchase electricity from the Vidalia hydroelectric facility and from System Energy under the Unit Power Sales Agreement. The election resulted in a $2.2 billion deductible temporary difference. |
Entergy Texas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % (a) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (b) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss carryovers will not be utilized, valuation allowances of $62 million as of December 31, 2016 and $46 million as of December 31, 2015 have been provided on the deferred tax assets relating to these state net operating loss carryovers. Additionally, valuation allowances totaling $42.3 million as of December 31, 2016 and $45.5 million as of December 31, 2015 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,240 million , $955 million , and $516 million as of December 31, 2016 , 2015 , and 2014 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $2,670 million , $1,657 million , and $4,221 million as of December 31, 2016 , 2015 , and 2014 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2016 , 2015 , and 2014 accrued balance for the possible payment of interest is approximately $30 million , $27 million , and $127 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are completed for years before 2009. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012 the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its RAR for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. In October 2015 two of Entergy’s Louisiana utilities, Entergy Gulf States Louisiana and Entergy Louisiana, combined their businesses into a legal entity which is identified as Entergy Louisiana herein. The structure of the business combination generated both a permanent difference and a temporary difference under FASB ASC Topic 740. The permanent difference resulted from recognition of the Waterford 3 and River Bend decommissioning liabilities as part of the business combination. Recognition of such decommissioning liabilities required Entergy to also recognize a taxable gain. The taxable gain resulted in a temporary difference because the gain provided for an increase in tax basis. Entergy Louisiana maintained a carryover tax basis in the assets received; and, to the extent that the increase in tax basis will provide additional tax depreciation, Entergy recorded a deferred tax asset. Entergy Louisiana obtained the corresponding deferred tax asset in the business combination. The permanent tax benefit net of ancillary tax charges was approximately $334 million . Consistent with the terms of the stipulated settlement in the business combination proceeding, electric customers of Entergy Louisiana will realize customer credits associated with the business combination. Accordingly, in October 2015, Entergy recorded a regulatory liability of $107 million ( $66 million net-of-tax) which partially offsets the effect of the aforementioned deferred tax asset. The deferred tax asset and the regulatory liability, net-of-tax, increased Entergy Louisiana’s member’s equity by $268 million . See Note 2 to the financial statements for further discussion of the business combination. In the fourth quarter 2015, System Energy and Entergy Louisiana adopted a new method of accounting for income tax return purposes in which the companies’ nuclear decommissioning costs will be treated as production costs of electricity includable in cost of goods sold. The new method results in a reduction of taxable income of $1.2 billion for System Energy and $2.2 billion for Entergy Louisiana. The Protecting Americans from Tax Hikes Act of 2015 was enacted in December 2015. The most significant provisions affecting Entergy and the Registrant Subsidiaries were a five-year extension of bonus depreciation and permanent extension of the research and experimentation tax credit. The effect of the bonus depreciation extension on 2015 increased Entergy’s tax net operating loss. 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 in the second quarter 2016. 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 . In 2016, Entergy Louisiana elected mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements, including Entergy Louisiana’s contract to purchase electricity from the Vidalia hydroelectric facility and from System Energy under the Unit Power Sales Agreement. The election resulted in a $2.2 billion deductible temporary difference. |
System Energy [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % (a) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (b) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss carryovers will not be utilized, valuation allowances of $62 million as of December 31, 2016 and $46 million as of December 31, 2015 have been provided on the deferred tax assets relating to these state net operating loss carryovers. Additionally, valuation allowances totaling $42.3 million as of December 31, 2016 and $45.5 million as of December 31, 2015 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,240 million , $955 million , and $516 million as of December 31, 2016 , 2015 , and 2014 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $2,670 million , $1,657 million , and $4,221 million as of December 31, 2016 , 2015 , and 2014 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2016 , 2015 , and 2014 accrued balance for the possible payment of interest is approximately $30 million , $27 million , and $127 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are completed for years before 2009. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012 the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its RAR for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. In October 2015 two of Entergy’s Louisiana utilities, Entergy Gulf States Louisiana and Entergy Louisiana, combined their businesses into a legal entity which is identified as Entergy Louisiana herein. The structure of the business combination generated both a permanent difference and a temporary difference under FASB ASC Topic 740. The permanent difference resulted from recognition of the Waterford 3 and River Bend decommissioning liabilities as part of the business combination. Recognition of such decommissioning liabilities required Entergy to also recognize a taxable gain. The taxable gain resulted in a temporary difference because the gain provided for an increase in tax basis. Entergy Louisiana maintained a carryover tax basis in the assets received; and, to the extent that the increase in tax basis will provide additional tax depreciation, Entergy recorded a deferred tax asset. Entergy Louisiana obtained the corresponding deferred tax asset in the business combination. The permanent tax benefit net of ancillary tax charges was approximately $334 million . Consistent with the terms of the stipulated settlement in the business combination proceeding, electric customers of Entergy Louisiana will realize customer credits associated with the business combination. Accordingly, in October 2015, Entergy recorded a regulatory liability of $107 million ( $66 million net-of-tax) which partially offsets the effect of the aforementioned deferred tax asset. The deferred tax asset and the regulatory liability, net-of-tax, increased Entergy Louisiana’s member’s equity by $268 million . See Note 2 to the financial statements for further discussion of the business combination. In the fourth quarter 2015, System Energy and Entergy Louisiana adopted a new method of accounting for income tax return purposes in which the companies’ nuclear decommissioning costs will be treated as production costs of electricity includable in cost of goods sold. The new method results in a reduction of taxable income of $1.2 billion for System Energy and $2.2 billion for Entergy Louisiana. The Protecting Americans from Tax Hikes Act of 2015 was enacted in December 2015. The most significant provisions affecting Entergy and the Registrant Subsidiaries were a five-year extension of bonus depreciation and permanent extension of the research and experimentation tax credit. The effect of the bonus depreciation extension on 2015 increased Entergy’s tax net operating loss. 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 in the second quarter 2016. 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 . In 2016, Entergy Louisiana elected mark-to-market income tax treatment for various wholesale electric power purchase and sale agreements, including Entergy Louisiana’s contract to purchase electricity from the Vidalia hydroelectric facility and from System Energy under the Unit Power Sales Agreement. The election resulted in a $2.2 billion deductible temporary difference. |
Revolving Credit Facilities, Li
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 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 year ended December 31, 2016 was 2.23% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 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 December 31, 2016 , Entergy Corporation had $344 million of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2016 was 1.13% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 million (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $100 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 working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2016 , $45 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2016 was 2.17% 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 December 31, 2016, there were no cash borrowings outstanding under the credit facility. The rate as of December 31, 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 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (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 December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 February 2017 the System Energy nuclear fuel company variable interest entity redeemed, at maturity, its $50 million of 4.02% Series H notes. In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2017 for issuances by its nuclear fuel company variable interest entities. |
Entergy Arkansas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 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 year ended December 31, 2016 was 2.23% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 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 December 31, 2016 , Entergy Corporation had $344 million of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2016 was 1.13% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 million (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $100 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 working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2016 , $45 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2016 was 2.17% 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 December 31, 2016, there were no cash borrowings outstanding under the credit facility. The rate as of December 31, 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 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (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 December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 February 2017 the System Energy nuclear fuel company variable interest entity redeemed, at maturity, its $50 million of 4.02% Series H notes. In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2017 for issuances by its nuclear fuel company variable interest entities. |
Entergy Louisiana [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 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 year ended December 31, 2016 was 2.23% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 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 December 31, 2016 , Entergy Corporation had $344 million of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2016 was 1.13% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 million (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $100 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 working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2016 , $45 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2016 was 2.17% 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 December 31, 2016, there were no cash borrowings outstanding under the credit facility. The rate as of December 31, 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 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (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 December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 February 2017 the System Energy nuclear fuel company variable interest entity redeemed, at maturity, its $50 million of 4.02% Series H notes. In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2017 for issuances by its nuclear fuel company variable interest entities. |
Entergy Mississippi [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 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 year ended December 31, 2016 was 2.23% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 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 December 31, 2016 , Entergy Corporation had $344 million of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2016 was 1.13% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 million (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $100 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 working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2016 , $45 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2016 was 2.17% 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 December 31, 2016, there were no cash borrowings outstanding under the credit facility. The rate as of December 31, 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 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (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 December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 February 2017 the System Energy nuclear fuel company variable interest entity redeemed, at maturity, its $50 million of 4.02% Series H notes. In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2017 for issuances by its nuclear fuel company variable interest entities. |
Entergy New Orleans [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 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 year ended December 31, 2016 was 2.23% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 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 December 31, 2016 , Entergy Corporation had $344 million of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2016 was 1.13% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 million (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $100 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 working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2016 , $45 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2016 was 2.17% 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 December 31, 2016, there were no cash borrowings outstanding under the credit facility. The rate as of December 31, 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 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (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 December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 February 2017 the System Energy nuclear fuel company variable interest entity redeemed, at maturity, its $50 million of 4.02% Series H notes. In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2017 for issuances by its nuclear fuel company variable interest entities. |
Entergy Texas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 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 year ended December 31, 2016 was 2.23% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 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 December 31, 2016 , Entergy Corporation had $344 million of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2016 was 1.13% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 million (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $100 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 working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2016 , $45 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2016 was 2.17% 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 December 31, 2016, there were no cash borrowings outstanding under the credit facility. The rate as of December 31, 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 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (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 December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 February 2017 the System Energy nuclear fuel company variable interest entity redeemed, at maturity, its $50 million of 4.02% Series H notes. In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2017 for issuances by its nuclear fuel company variable interest entities. |
System Energy [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 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 year ended December 31, 2016 was 2.23% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 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 December 31, 2016 , Entergy Corporation had $344 million of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2016 was 1.13% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 million (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $100 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 working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2016 , $45 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2016 was 2.17% 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 December 31, 2016, there were no cash borrowings outstanding under the credit facility. The rate as of December 31, 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 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (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 December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 February 2017 the System Energy nuclear fuel company variable interest entity redeemed, at maturity, its $50 million of 4.02% Series H notes. In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2017 for issuances by its nuclear fuel company variable interest entities. |
Long - Term Debt
Long - Term Debt | 12 Months Ended |
Dec. 31, 2016 | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy 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. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2016 and 2015 consisted of: 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until the date given in the tables above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next four years in the amount of $13.8 million for 2017 , $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017 , $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017 , $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , and $11.9 million for 2021 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $27.6 million for 2017 , $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . Of the scheduled principal payments for 2017, $23.6 million are for Tranche A-2, and $4 million are for Tranche A-3. All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $44.1 million for 2017 , $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , and $52 million for 2021 . All of the scheduled principal payments for 2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Arkansas [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy 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. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2016 and 2015 consisted of: 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until the date given in the tables above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next four years in the amount of $13.8 million for 2017 , $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017 , $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017 , $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , and $11.9 million for 2021 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $27.6 million for 2017 , $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . Of the scheduled principal payments for 2017, $23.6 million are for Tranche A-2, and $4 million are for Tranche A-3. All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $44.1 million for 2017 , $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , and $52 million for 2021 . All of the scheduled principal payments for 2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Louisiana [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy 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. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2016 and 2015 consisted of: 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until the date given in the tables above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next four years in the amount of $13.8 million for 2017 , $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017 , $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017 , $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , and $11.9 million for 2021 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $27.6 million for 2017 , $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . Of the scheduled principal payments for 2017, $23.6 million are for Tranche A-2, and $4 million are for Tranche A-3. All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $44.1 million for 2017 , $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , and $52 million for 2021 . All of the scheduled principal payments for 2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Mississippi [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy 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. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2016 and 2015 consisted of: 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until the date given in the tables above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next four years in the amount of $13.8 million for 2017 , $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017 , $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017 , $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , and $11.9 million for 2021 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $27.6 million for 2017 , $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . Of the scheduled principal payments for 2017, $23.6 million are for Tranche A-2, and $4 million are for Tranche A-3. All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $44.1 million for 2017 , $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , and $52 million for 2021 . All of the scheduled principal payments for 2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy New Orleans [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy 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. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2016 and 2015 consisted of: 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until the date given in the tables above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next four years in the amount of $13.8 million for 2017 , $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017 , $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017 , $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , and $11.9 million for 2021 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $27.6 million for 2017 , $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . Of the scheduled principal payments for 2017, $23.6 million are for Tranche A-2, and $4 million are for Tranche A-3. All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $44.1 million for 2017 , $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , and $52 million for 2021 . All of the scheduled principal payments for 2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Texas [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy 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. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2016 and 2015 consisted of: 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until the date given in the tables above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next four years in the amount of $13.8 million for 2017 , $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017 , $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017 , $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , and $11.9 million for 2021 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $27.6 million for 2017 , $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . Of the scheduled principal payments for 2017, $23.6 million are for Tranche A-2, and $4 million are for Tranche A-3. All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $44.1 million for 2017 , $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , and $52 million for 2021 . All of the scheduled principal payments for 2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
System Energy [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy 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. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2016 and 2015 consisted of: 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until the date given in the tables above, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next four years in the amount of $13.8 million for 2017 , $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until the date given in the tables above, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $21.7 million for 2017 , $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until the date given in the tables above, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $10.6 million for 2017 , $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , and $11.9 million for 2021 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next five years in the amounts of $27.6 million for 2017 , $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . Of the scheduled principal payments for 2017, $23.6 million are for Tranche A-2, and $4 million are for Tranche A-3. All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $44.1 million for 2017 , $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , and $52 million for 2021 . All of the scheduled principal payments for 2017 are for Tranche A-2, $30.8 million of the scheduled principal payments for 2018 are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2021 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Preferred Equity
Preferred Equity | 12 Months Ended |
Dec. 31, 2016 | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans) The number of shares and units authorized and outstanding and dollar value of preferred stock, preferred membership interests, and non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2016 and 2015 are presented below. All series of the Utility preferred stock are redeemable at the option of the related company. Shares/Units Authorized Shares/Units Outstanding 2016 2015 2016 2015 2016 2015 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-6.45% Series 313,500 3,413,500 313,500 3,413,500 $31,350 $116,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Mississippi, 4.36%-6.25% Series 203,807 1,403,807 203,807 1,403,807 20,381 50,381 Entergy New Orleans, 4.36%-5.56% Series 197,798 197,798 197,798 197,798 19,780 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 825,105 5,125,105 825,105 5,125,105 178,936 293,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (b) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 1,075,105 5,375,105 1,075,105 5,375,105 $203,185 $318,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series Preferred Membership Interests, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2016 and 2015 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 6.08% Series — 100,000 — 10,000 $— Cumulative, $25 par value: 6.45% Series — 3,000,000 — 75,000 $— Total without sinking fund 313,500 3,413,500 $31,350 $116,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Cumulative, $25 par value 6.25% Series — 1,200,000 — 30,000 $— Total without sinking fund 203,807 1,403,807 $20,381 $50,381 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 60,000 60,000 $6,000 $6,000 $104.58 4.75% Series 77,798 77,798 7,780 7,780 $105.00 5.56% Series 60,000 60,000 6,000 6,000 $102.59 Total without sinking fund 197,798 197,798 $19,780 $19,780 |
Entergy Arkansas [Member] | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans) The number of shares and units authorized and outstanding and dollar value of preferred stock, preferred membership interests, and non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2016 and 2015 are presented below. All series of the Utility preferred stock are redeemable at the option of the related company. Shares/Units Authorized Shares/Units Outstanding 2016 2015 2016 2015 2016 2015 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-6.45% Series 313,500 3,413,500 313,500 3,413,500 $31,350 $116,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Mississippi, 4.36%-6.25% Series 203,807 1,403,807 203,807 1,403,807 20,381 50,381 Entergy New Orleans, 4.36%-5.56% Series 197,798 197,798 197,798 197,798 19,780 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 825,105 5,125,105 825,105 5,125,105 178,936 293,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (b) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 1,075,105 5,375,105 1,075,105 5,375,105 $203,185 $318,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series Preferred Membership Interests, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2016 and 2015 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 6.08% Series — 100,000 — 10,000 $— Cumulative, $25 par value: 6.45% Series — 3,000,000 — 75,000 $— Total without sinking fund 313,500 3,413,500 $31,350 $116,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Cumulative, $25 par value 6.25% Series — 1,200,000 — 30,000 $— Total without sinking fund 203,807 1,403,807 $20,381 $50,381 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 60,000 60,000 $6,000 $6,000 $104.58 4.75% Series 77,798 77,798 7,780 7,780 $105.00 5.56% Series 60,000 60,000 6,000 6,000 $102.59 Total without sinking fund 197,798 197,798 $19,780 $19,780 |
Entergy Mississippi [Member] | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans) The number of shares and units authorized and outstanding and dollar value of preferred stock, preferred membership interests, and non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2016 and 2015 are presented below. All series of the Utility preferred stock are redeemable at the option of the related company. Shares/Units Authorized Shares/Units Outstanding 2016 2015 2016 2015 2016 2015 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-6.45% Series 313,500 3,413,500 313,500 3,413,500 $31,350 $116,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Mississippi, 4.36%-6.25% Series 203,807 1,403,807 203,807 1,403,807 20,381 50,381 Entergy New Orleans, 4.36%-5.56% Series 197,798 197,798 197,798 197,798 19,780 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 825,105 5,125,105 825,105 5,125,105 178,936 293,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (b) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 1,075,105 5,375,105 1,075,105 5,375,105 $203,185 $318,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series Preferred Membership Interests, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2016 and 2015 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 6.08% Series — 100,000 — 10,000 $— Cumulative, $25 par value: 6.45% Series — 3,000,000 — 75,000 $— Total without sinking fund 313,500 3,413,500 $31,350 $116,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Cumulative, $25 par value 6.25% Series — 1,200,000 — 30,000 $— Total without sinking fund 203,807 1,403,807 $20,381 $50,381 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 60,000 60,000 $6,000 $6,000 $104.58 4.75% Series 77,798 77,798 7,780 7,780 $105.00 5.56% Series 60,000 60,000 6,000 6,000 $102.59 Total without sinking fund 197,798 197,798 $19,780 $19,780 |
Entergy New Orleans [Member] | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans) The number of shares and units authorized and outstanding and dollar value of preferred stock, preferred membership interests, and non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2016 and 2015 are presented below. All series of the Utility preferred stock are redeemable at the option of the related company. Shares/Units Authorized Shares/Units Outstanding 2016 2015 2016 2015 2016 2015 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-6.45% Series 313,500 3,413,500 313,500 3,413,500 $31,350 $116,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Mississippi, 4.36%-6.25% Series 203,807 1,403,807 203,807 1,403,807 20,381 50,381 Entergy New Orleans, 4.36%-5.56% Series 197,798 197,798 197,798 197,798 19,780 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 825,105 5,125,105 825,105 5,125,105 178,936 293,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (b) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 1,075,105 5,375,105 1,075,105 5,375,105 $203,185 $318,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series Preferred Membership Interests, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2016. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2016 and 2015 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 6.08% Series — 100,000 — 10,000 $— Cumulative, $25 par value: 6.45% Series — 3,000,000 — 75,000 $— Total without sinking fund 313,500 3,413,500 $31,350 $116,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Cumulative, $25 par value 6.25% Series — 1,200,000 — 30,000 $— Total without sinking fund 203,807 1,403,807 $20,381 $50,381 Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 60,000 60,000 $6,000 $6,000 $104.58 4.75% Series 77,798 77,798 7,780 7,780 $105.00 5.56% Series 60,000 60,000 6,000 6,000 $102.59 Total without sinking fund 197,798 197,798 $19,780 $19,780 |
Common Equity
Common Equity | 12 Months Ended |
Dec. 31, 2016 | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2016 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.42 in 2016 , $3.34 in 2015 , and $3.32 in 2014 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $40 million in 2016 and $70 million in 2015. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas, Entergy Mississippi and Entergy New Orleans could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $165 million in 2016 , $615 million in 2015 , and $893 million in 2014 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Arkansas [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2016 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.42 in 2016 , $3.34 in 2015 , and $3.32 in 2014 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $40 million in 2016 and $70 million in 2015. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas, Entergy Mississippi and Entergy New Orleans could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $165 million in 2016 , $615 million in 2015 , and $893 million in 2014 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Louisiana [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2016 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.42 in 2016 , $3.34 in 2015 , and $3.32 in 2014 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $40 million in 2016 and $70 million in 2015. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas, Entergy Mississippi and Entergy New Orleans could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $165 million in 2016 , $615 million in 2015 , and $893 million in 2014 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Mississippi [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2016 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.42 in 2016 , $3.34 in 2015 , and $3.32 in 2014 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $40 million in 2016 and $70 million in 2015. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas, Entergy Mississippi and Entergy New Orleans could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $165 million in 2016 , $615 million in 2015 , and $893 million in 2014 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy New Orleans [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2016 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.42 in 2016 , $3.34 in 2015 , and $3.32 in 2014 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $40 million in 2016 and $70 million in 2015. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas, Entergy Mississippi and Entergy New Orleans could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $165 million in 2016 , $615 million in 2015 , and $893 million in 2014 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Texas [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2016 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.42 in 2016 , $3.34 in 2015 , and $3.32 in 2014 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $40 million in 2016 and $70 million in 2015. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas, Entergy Mississippi and Entergy New Orleans could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $165 million in 2016 , $615 million in 2015 , and $893 million in 2014 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
System Energy [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans of Entergy Corporation and Subsidiaries, and certain other stock benefit plans. The Directors’ Plan awards to non-employee directors a portion of their compensation in the form of a fixed dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2016 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.42 in 2016 , $3.34 in 2015 , and $3.32 in 2014 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $40 million in 2016 and $70 million in 2015. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas, Entergy Mississippi and Entergy New Orleans could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $165 million in 2016 , $615 million in 2015 , and $893 million in 2014 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 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 the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material effect on Entergy’s results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project. Entergy Louisiana made payments under the contract of approximately $158.7 million in 2016 , $146 million in 2015 , and $152.8 million in 2014 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2017 , and a total of $1.81 billion for the years 2018 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. 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 , of which $28.6 million was incurred in 2016 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident. The costs of this insurance are borne by the nuclear power industry. Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025. The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident. This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.273 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. As of December 31, 2016, the Utility plants (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) had property damage insurance limits as follows: $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for ANO 1 and 2 and Grand Gulf. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for River Bend and Waterford 3. As of December 31, 2016, the Entergy Wholesale Commodities’ plants (FitzPatrick, Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) had property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; FitzPatrick, Pilgrim, and Palisades - $1.115 billion per occurrence (FitzPatrick and Pilgrim’s coverage for non-nuclear, non-radiological property damage is limited to $500 million per occurrence); and Indian Point - $1.5 billion per occurrence (Indian Point has additional coverage of $ 100 million per occurrence, which brings its total insurance to $1.6 billion ). Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for FitzPatrick and Pilgrim. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for Indian Point. In addition, Waterford 3, Grand Gulf, and the Entergy Wholesale Commodities plants, with the exception of Vermont Yankee, are also covered under NEIL’s Accidental Outage Coverage program. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate of $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Conventional Property Insurance Entergy’s conventional property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million for all perils on a per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following perils: earthquake shock, flood, and Named Windstorm (including associated storm surge). For the perils of earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention, and for the peril of a Named Windstorm (including associated storm surge), the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for the perils of earthquake shock, flood, and Named Windstorm (including associated storm surge). Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers for substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. As discussed above, the Terrorism Risk Insurance Reauthorization Act of 2007 expired on December 31, 2014. However, The Terrorism Risk Insurance Reauthorization Act of 2015 was signed into law by the President of the United States on January 12, 2015 thereby extending the Terrorism Risk Insurance Act for six years until December 31, 2020. In addition to the conventional property insurance program, Entergy has purchased additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. This policy serves to buy-down the $20 million deductible and is placed on a scheduled location basis. The applicable deductibles are generally $100,000 to $250,000 for the locations scheduled in the policy, with the following exceptions: 1) locations where damage is caused by a Named Windstorm (including associated storm surge) and locations with values in excess of $20 million are subject to a $500,000 deductible; and 2) three scheduled locations at two nuclear sites are subject to a $2.5 million deductible, which coincides with the nuclear property insurance deductible at each of the respective nuclear sites. Gas System Rebuild Insurance Proceeds (Entergy New Orleans) Entergy New Orleans received insurance proceeds in 2007 for future construction expenditures associated with rebuilding its gas system, and the October 2006 City Council resolution approving the settlement of Entergy New Orleans’s rate and storm-cost recovery filings requires Entergy New Orleans to record those proceeds in a designated sub-account of other deferred credits until the proceeds are spent on the rebuild project. This other deferred credit is shown as “Gas system rebuild insurance proceeds” on Entergy New Orleans’s balance sheet. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing services directly or indirectly to one or more of the Registrant Subsidiaries and other Entergy subsidiaries. Generally, the amount of damages being sought is not specified in these proceedings. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender, age, and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board or concerning the National Labor Relations Act; claims of retaliation; claims of harassment and hostile work environment; and claims for or regarding benefits under various Entergy Corporation-sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. Management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material, in the aggregate, to the financial position, results of operation, or cash flows of Entergy or the Utility operating companies. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) Numerous lawsuits have been filed in federal and stat |
Entergy Arkansas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material effect on Entergy’s results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project. Entergy Louisiana made payments under the contract of approximately $158.7 million in 2016 , $146 million in 2015 , and $152.8 million in 2014 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2017 , and a total of $1.81 billion for the years 2018 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. 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 , of which $28.6 million was incurred in 2016 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident. The costs of this insurance are borne by the nuclear power industry. Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025. The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident. This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.273 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. As of December 31, 2016, the Utility plants (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) had property damage insurance limits as follows: $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for ANO 1 and 2 and Grand Gulf. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for River Bend and Waterford 3. As of December 31, 2016, the Entergy Wholesale Commodities’ plants (FitzPatrick, Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) had property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; FitzPatrick, Pilgrim, and Palisades - $1.115 billion per occurrence (FitzPatrick and Pilgrim’s coverage for non-nuclear, non-radiological property damage is limited to $500 million per occurrence); and Indian Point - $1.5 billion per occurrence (Indian Point has additional coverage of $ 100 million per occurrence, which brings its total insurance to $1.6 billion ). Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for FitzPatrick and Pilgrim. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for Indian Point. In addition, Waterford 3, Grand Gulf, and the Entergy Wholesale Commodities plants, with the exception of Vermont Yankee, are also covered under NEIL’s Accidental Outage Coverage program. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate of $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Conventional Property Insurance Entergy’s conventional property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million for all perils on a per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following perils: earthquake shock, flood, and Named Windstorm (including associated storm surge). For the perils of earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention, and for the peril of a Named Windstorm (including associated storm surge), the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for the perils of earthquake shock, flood, and Named Windstorm (including associated storm surge). Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers for substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. As discussed above, the Terrorism Risk Insurance Reauthorization Act of 2007 expired on December 31, 2014. However, The Terrorism Risk Insurance Reauthorization Act of 2015 was signed into law by the President of the United States on January 12, 2015 thereby extending the Terrorism Risk Insurance Act for six years until December 31, 2020. In addition to the conventional property insurance program, Entergy has purchased additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. This policy serves to buy-down the $20 million deductible and is placed on a scheduled location basis. The applicable deductibles are generally $100,000 to $250,000 for the locations scheduled in the policy, with the following exceptions: 1) locations where damage is caused by a Named Windstorm (including associated storm surge) and locations with values in excess of $20 million are subject to a $500,000 deductible; and 2) three scheduled locations at two nuclear sites are subject to a $2.5 million deductible, which coincides with the nuclear property insurance deductible at each of the respective nuclear sites. Gas System Rebuild Insurance Proceeds (Entergy New Orleans) Entergy New Orleans received insurance proceeds in 2007 for future construction expenditures associated with rebuilding its gas system, and the October 2006 City Council resolution approving the settlement of Entergy New Orleans’s rate and storm-cost recovery filings requires Entergy New Orleans to record those proceeds in a designated sub-account of other deferred credits until the proceeds are spent on the rebuild project. This other deferred credit is shown as “Gas system rebuild insurance proceeds” on Entergy New Orleans’s balance sheet. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing services directly or indirectly to one or more of the Registrant Subsidiaries and other Entergy subsidiaries. Generally, the amount of damages being sought is not specified in these proceedings. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender, age, and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board or concerning the National Labor Relations Act; claims of retaliation; claims of harassment and hostile work environment; and claims for or regarding benefits under various Entergy Corporation-sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. Management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material, in the aggregate, to the financial position, results of operation, or cash flows of Entergy or the Utility operating companies. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) Numerous lawsuits have been filed in federal and stat |
Entergy Louisiana [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material effect on Entergy’s results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project. Entergy Louisiana made payments under the contract of approximately $158.7 million in 2016 , $146 million in 2015 , and $152.8 million in 2014 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2017 , and a total of $1.81 billion for the years 2018 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. 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 , of which $28.6 million was incurred in 2016 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident. The costs of this insurance are borne by the nuclear power industry. Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025. The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident. This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.273 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. As of December 31, 2016, the Utility plants (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) had property damage insurance limits as follows: $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for ANO 1 and 2 and Grand Gulf. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for River Bend and Waterford 3. As of December 31, 2016, the Entergy Wholesale Commodities’ plants (FitzPatrick, Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) had property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; FitzPatrick, Pilgrim, and Palisades - $1.115 billion per occurrence (FitzPatrick and Pilgrim’s coverage for non-nuclear, non-radiological property damage is limited to $500 million per occurrence); and Indian Point - $1.5 billion per occurrence (Indian Point has additional coverage of $ 100 million per occurrence, which brings its total insurance to $1.6 billion ). Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for FitzPatrick and Pilgrim. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for Indian Point. In addition, Waterford 3, Grand Gulf, and the Entergy Wholesale Commodities plants, with the exception of Vermont Yankee, are also covered under NEIL’s Accidental Outage Coverage program. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate of $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Conventional Property Insurance Entergy’s conventional property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million for all perils on a per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following perils: earthquake shock, flood, and Named Windstorm (including associated storm surge). For the perils of earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention, and for the peril of a Named Windstorm (including associated storm surge), the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for the perils of earthquake shock, flood, and Named Windstorm (including associated storm surge). Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers for substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. As discussed above, the Terrorism Risk Insurance Reauthorization Act of 2007 expired on December 31, 2014. However, The Terrorism Risk Insurance Reauthorization Act of 2015 was signed into law by the President of the United States on January 12, 2015 thereby extending the Terrorism Risk Insurance Act for six years until December 31, 2020. In addition to the conventional property insurance program, Entergy has purchased additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. This policy serves to buy-down the $20 million deductible and is placed on a scheduled location basis. The applicable deductibles are generally $100,000 to $250,000 for the locations scheduled in the policy, with the following exceptions: 1) locations where damage is caused by a Named Windstorm (including associated storm surge) and locations with values in excess of $20 million are subject to a $500,000 deductible; and 2) three scheduled locations at two nuclear sites are subject to a $2.5 million deductible, which coincides with the nuclear property insurance deductible at each of the respective nuclear sites. Gas System Rebuild Insurance Proceeds (Entergy New Orleans) Entergy New Orleans received insurance proceeds in 2007 for future construction expenditures associated with rebuilding its gas system, and the October 2006 City Council resolution approving the settlement of Entergy New Orleans’s rate and storm-cost recovery filings requires Entergy New Orleans to record those proceeds in a designated sub-account of other deferred credits until the proceeds are spent on the rebuild project. This other deferred credit is shown as “Gas system rebuild insurance proceeds” on Entergy New Orleans’s balance sheet. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing services directly or indirectly to one or more of the Registrant Subsidiaries and other Entergy subsidiaries. Generally, the amount of damages being sought is not specified in these proceedings. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender, age, and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board or concerning the National Labor Relations Act; claims of retaliation; claims of harassment and hostile work environment; and claims for or regarding benefits under various Entergy Corporation-sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. Management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material, in the aggregate, to the financial position, results of operation, or cash flows of Entergy or the Utility operating companies. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) Numerous lawsuits have been filed in federal and stat |
Entergy Mississippi [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material effect on Entergy’s results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project. Entergy Louisiana made payments under the contract of approximately $158.7 million in 2016 , $146 million in 2015 , and $152.8 million in 2014 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2017 , and a total of $1.81 billion for the years 2018 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. 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 , of which $28.6 million was incurred in 2016 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident. The costs of this insurance are borne by the nuclear power industry. Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025. The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident. This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.273 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. As of December 31, 2016, the Utility plants (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) had property damage insurance limits as follows: $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for ANO 1 and 2 and Grand Gulf. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for River Bend and Waterford 3. As of December 31, 2016, the Entergy Wholesale Commodities’ plants (FitzPatrick, Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) had property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; FitzPatrick, Pilgrim, and Palisades - $1.115 billion per occurrence (FitzPatrick and Pilgrim’s coverage for non-nuclear, non-radiological property damage is limited to $500 million per occurrence); and Indian Point - $1.5 billion per occurrence (Indian Point has additional coverage of $ 100 million per occurrence, which brings its total insurance to $1.6 billion ). Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for FitzPatrick and Pilgrim. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for Indian Point. In addition, Waterford 3, Grand Gulf, and the Entergy Wholesale Commodities plants, with the exception of Vermont Yankee, are also covered under NEIL’s Accidental Outage Coverage program. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate of $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Conventional Property Insurance Entergy’s conventional property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million for all perils on a per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following perils: earthquake shock, flood, and Named Windstorm (including associated storm surge). For the perils of earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention, and for the peril of a Named Windstorm (including associated storm surge), the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for the perils of earthquake shock, flood, and Named Windstorm (including associated storm surge). Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers for substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. As discussed above, the Terrorism Risk Insurance Reauthorization Act of 2007 expired on December 31, 2014. However, The Terrorism Risk Insurance Reauthorization Act of 2015 was signed into law by the President of the United States on January 12, 2015 thereby extending the Terrorism Risk Insurance Act for six years until December 31, 2020. In addition to the conventional property insurance program, Entergy has purchased additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. This policy serves to buy-down the $20 million deductible and is placed on a scheduled location basis. The applicable deductibles are generally $100,000 to $250,000 for the locations scheduled in the policy, with the following exceptions: 1) locations where damage is caused by a Named Windstorm (including associated storm surge) and locations with values in excess of $20 million are subject to a $500,000 deductible; and 2) three scheduled locations at two nuclear sites are subject to a $2.5 million deductible, which coincides with the nuclear property insurance deductible at each of the respective nuclear sites. Gas System Rebuild Insurance Proceeds (Entergy New Orleans) Entergy New Orleans received insurance proceeds in 2007 for future construction expenditures associated with rebuilding its gas system, and the October 2006 City Council resolution approving the settlement of Entergy New Orleans’s rate and storm-cost recovery filings requires Entergy New Orleans to record those proceeds in a designated sub-account of other deferred credits until the proceeds are spent on the rebuild project. This other deferred credit is shown as “Gas system rebuild insurance proceeds” on Entergy New Orleans’s balance sheet. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing services directly or indirectly to one or more of the Registrant Subsidiaries and other Entergy subsidiaries. Generally, the amount of damages being sought is not specified in these proceedings. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender, age, and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board or concerning the National Labor Relations Act; claims of retaliation; claims of harassment and hostile work environment; and claims for or regarding benefits under various Entergy Corporation-sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. Management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material, in the aggregate, to the financial position, results of operation, or cash flows of Entergy or the Utility operating companies. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) Numerous lawsuits have been filed in federal and stat |
Entergy New Orleans [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material effect on Entergy’s results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project. Entergy Louisiana made payments under the contract of approximately $158.7 million in 2016 , $146 million in 2015 , and $152.8 million in 2014 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2017 , and a total of $1.81 billion for the years 2018 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. 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 , of which $28.6 million was incurred in 2016 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident. The costs of this insurance are borne by the nuclear power industry. Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025. The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident. This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.273 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. As of December 31, 2016, the Utility plants (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) had property damage insurance limits as follows: $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for ANO 1 and 2 and Grand Gulf. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for River Bend and Waterford 3. As of December 31, 2016, the Entergy Wholesale Commodities’ plants (FitzPatrick, Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) had property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; FitzPatrick, Pilgrim, and Palisades - $1.115 billion per occurrence (FitzPatrick and Pilgrim’s coverage for non-nuclear, non-radiological property damage is limited to $500 million per occurrence); and Indian Point - $1.5 billion per occurrence (Indian Point has additional coverage of $ 100 million per occurrence, which brings its total insurance to $1.6 billion ). Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for FitzPatrick and Pilgrim. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for Indian Point. In addition, Waterford 3, Grand Gulf, and the Entergy Wholesale Commodities plants, with the exception of Vermont Yankee, are also covered under NEIL’s Accidental Outage Coverage program. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate of $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Conventional Property Insurance Entergy’s conventional property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million for all perils on a per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following perils: earthquake shock, flood, and Named Windstorm (including associated storm surge). For the perils of earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention, and for the peril of a Named Windstorm (including associated storm surge), the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for the perils of earthquake shock, flood, and Named Windstorm (including associated storm surge). Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers for substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. As discussed above, the Terrorism Risk Insurance Reauthorization Act of 2007 expired on December 31, 2014. However, The Terrorism Risk Insurance Reauthorization Act of 2015 was signed into law by the President of the United States on January 12, 2015 thereby extending the Terrorism Risk Insurance Act for six years until December 31, 2020. In addition to the conventional property insurance program, Entergy has purchased additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. This policy serves to buy-down the $20 million deductible and is placed on a scheduled location basis. The applicable deductibles are generally $100,000 to $250,000 for the locations scheduled in the policy, with the following exceptions: 1) locations where damage is caused by a Named Windstorm (including associated storm surge) and locations with values in excess of $20 million are subject to a $500,000 deductible; and 2) three scheduled locations at two nuclear sites are subject to a $2.5 million deductible, which coincides with the nuclear property insurance deductible at each of the respective nuclear sites. Gas System Rebuild Insurance Proceeds (Entergy New Orleans) Entergy New Orleans received insurance proceeds in 2007 for future construction expenditures associated with rebuilding its gas system, and the October 2006 City Council resolution approving the settlement of Entergy New Orleans’s rate and storm-cost recovery filings requires Entergy New Orleans to record those proceeds in a designated sub-account of other deferred credits until the proceeds are spent on the rebuild project. This other deferred credit is shown as “Gas system rebuild insurance proceeds” on Entergy New Orleans’s balance sheet. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing services directly or indirectly to one or more of the Registrant Subsidiaries and other Entergy subsidiaries. Generally, the amount of damages being sought is not specified in these proceedings. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender, age, and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board or concerning the National Labor Relations Act; claims of retaliation; claims of harassment and hostile work environment; and claims for or regarding benefits under various Entergy Corporation-sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. Management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material, in the aggregate, to the financial position, results of operation, or cash flows of Entergy or the Utility operating companies. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) Numerous lawsuits have been filed in federal and stat |
Entergy Texas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material effect on Entergy’s results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project. Entergy Louisiana made payments under the contract of approximately $158.7 million in 2016 , $146 million in 2015 , and $152.8 million in 2014 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2017 , and a total of $1.81 billion for the years 2018 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. 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 , of which $28.6 million was incurred in 2016 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident. The costs of this insurance are borne by the nuclear power industry. Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025. The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident. This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.273 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. As of December 31, 2016, the Utility plants (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) had property damage insurance limits as follows: $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for ANO 1 and 2 and Grand Gulf. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for River Bend and Waterford 3. As of December 31, 2016, the Entergy Wholesale Commodities’ plants (FitzPatrick, Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) had property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; FitzPatrick, Pilgrim, and Palisades - $1.115 billion per occurrence (FitzPatrick and Pilgrim’s coverage for non-nuclear, non-radiological property damage is limited to $500 million per occurrence); and Indian Point - $1.5 billion per occurrence (Indian Point has additional coverage of $ 100 million per occurrence, which brings its total insurance to $1.6 billion ). Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for FitzPatrick and Pilgrim. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for Indian Point. In addition, Waterford 3, Grand Gulf, and the Entergy Wholesale Commodities plants, with the exception of Vermont Yankee, are also covered under NEIL’s Accidental Outage Coverage program. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate of $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Conventional Property Insurance Entergy’s conventional property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million for all perils on a per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following perils: earthquake shock, flood, and Named Windstorm (including associated storm surge). For the perils of earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention, and for the peril of a Named Windstorm (including associated storm surge), the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for the perils of earthquake shock, flood, and Named Windstorm (including associated storm surge). Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers for substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. As discussed above, the Terrorism Risk Insurance Reauthorization Act of 2007 expired on December 31, 2014. However, The Terrorism Risk Insurance Reauthorization Act of 2015 was signed into law by the President of the United States on January 12, 2015 thereby extending the Terrorism Risk Insurance Act for six years until December 31, 2020. In addition to the conventional property insurance program, Entergy has purchased additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. This policy serves to buy-down the $20 million deductible and is placed on a scheduled location basis. The applicable deductibles are generally $100,000 to $250,000 for the locations scheduled in the policy, with the following exceptions: 1) locations where damage is caused by a Named Windstorm (including associated storm surge) and locations with values in excess of $20 million are subject to a $500,000 deductible; and 2) three scheduled locations at two nuclear sites are subject to a $2.5 million deductible, which coincides with the nuclear property insurance deductible at each of the respective nuclear sites. Gas System Rebuild Insurance Proceeds (Entergy New Orleans) Entergy New Orleans received insurance proceeds in 2007 for future construction expenditures associated with rebuilding its gas system, and the October 2006 City Council resolution approving the settlement of Entergy New Orleans’s rate and storm-cost recovery filings requires Entergy New Orleans to record those proceeds in a designated sub-account of other deferred credits until the proceeds are spent on the rebuild project. This other deferred credit is shown as “Gas system rebuild insurance proceeds” on Entergy New Orleans’s balance sheet. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing services directly or indirectly to one or more of the Registrant Subsidiaries and other Entergy subsidiaries. Generally, the amount of damages being sought is not specified in these proceedings. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender, age, and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board or concerning the National Labor Relations Act; claims of retaliation; claims of harassment and hostile work environment; and claims for or regarding benefits under various Entergy Corporation-sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. Management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material, in the aggregate, to the financial position, results of operation, or cash flows of Entergy or the Utility operating companies. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) Numerous lawsuits have been filed in federal and stat |
System Energy [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material effect on Entergy’s results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project. Entergy Louisiana made payments under the contract of approximately $158.7 million in 2016 , $146 million in 2015 , and $152.8 million in 2014 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2017 , and a total of $1.81 billion for the years 2018 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. 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 , of which $28.6 million was incurred in 2016 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident. The costs of this insurance are borne by the nuclear power industry. Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025. The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident. This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.273 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. As of December 31, 2016, the Utility plants (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) had property damage insurance limits as follows: $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for ANO 1 and 2 and Grand Gulf. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for River Bend and Waterford 3. As of December 31, 2016, the Entergy Wholesale Commodities’ plants (FitzPatrick, Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) had property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; FitzPatrick, Pilgrim, and Palisades - $1.115 billion per occurrence (FitzPatrick and Pilgrim’s coverage for non-nuclear, non-radiological property damage is limited to $500 million per occurrence); and Indian Point - $1.5 billion per occurrence (Indian Point has additional coverage of $ 100 million per occurrence, which brings its total insurance to $1.6 billion ). Property damage from flood, earthquake, and volcanic eruption is excluded from the first $500 million in coverage for FitzPatrick and Pilgrim. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for Indian Point. In addition, Waterford 3, Grand Gulf, and the Entergy Wholesale Commodities plants, with the exception of Vermont Yankee, are also covered under NEIL’s Accidental Outage Coverage program. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate of $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Conventional Property Insurance Entergy’s conventional property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million for all perils on a per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following perils: earthquake shock, flood, and Named Windstorm (including associated storm surge). For the perils of earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention, and for the peril of a Named Windstorm (including associated storm surge), the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for the perils of earthquake shock, flood, and Named Windstorm (including associated storm surge). Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers for substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. As discussed above, the Terrorism Risk Insurance Reauthorization Act of 2007 expired on December 31, 2014. However, The Terrorism Risk Insurance Reauthorization Act of 2015 was signed into law by the President of the United States on January 12, 2015 thereby extending the Terrorism Risk Insurance Act for six years until December 31, 2020. In addition to the conventional property insurance program, Entergy has purchased additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. This policy serves to buy-down the $20 million deductible and is placed on a scheduled location basis. The applicable deductibles are generally $100,000 to $250,000 for the locations scheduled in the policy, with the following exceptions: 1) locations where damage is caused by a Named Windstorm (including associated storm surge) and locations with values in excess of $20 million are subject to a $500,000 deductible; and 2) three scheduled locations at two nuclear sites are subject to a $2.5 million deductible, which coincides with the nuclear property insurance deductible at each of the respective nuclear sites. Gas System Rebuild Insurance Proceeds (Entergy New Orleans) Entergy New Orleans received insurance proceeds in 2007 for future construction expenditures associated with rebuilding its gas system, and the October 2006 City Council resolution approving the settlement of Entergy New Orleans’s rate and storm-cost recovery filings requires Entergy New Orleans to record those proceeds in a designated sub-account of other deferred credits until the proceeds are spent on the rebuild project. This other deferred credit is shown as “Gas system rebuild insurance proceeds” on Entergy New Orleans’s balance sheet. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing services directly or indirectly to one or more of the Registrant Subsidiaries and other Entergy subsidiaries. Generally, the amount of damages being sought is not specified in these proceedings. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender, age, and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board or concerning the National Labor Relations Act; claims of retaliation; claims of harassment and hostile work environment; and claims for or regarding benefits under various Entergy Corporation-sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. Management believes that loss exposure has been and will continue to be handled so that the ultimate resolution of these matters will not be material, in the aggregate, to the financial position, results of operation, or cash flows of Entergy or the Utility operating companies. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) Numerous lawsuits have been filed in federal and stat |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2016 | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset. The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. The accretion will continue through the completion of the asset retirement activity. The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2016 and 2015 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the fourth quarter 2015, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $24.9 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. In the fourth quarter 2015, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $2.5 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. As a result of the settlement agreement entered into by Entergy and the state of Vermont, Entergy reassessed its assumptions regarding the timing of cash flows. Entergy Vermont Yankee provided to the Vermont parties, in 2014, a site assessment study of the costs and tasks of radiological decommissioning, spent nuclear fuel management, and site restoration for Vermont Yankee. Entergy Vermont Yankee filed its Post-Shutdown Decommissioning Activities Report (PSDAR) for Vermont Yankee with the NRC in December 2014. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with 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. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In the second quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $77.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. In the fourth quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $42.4 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2015. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Pilgrim as a result of a revised decommissioning cost study. The revised estimate resulted in a $134 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant no later than June 2019. The asset retirement cost asset was included in the Pilgrim carrying value that was written down to fair value in the third quarter 2015. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Pilgrim plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually transition to decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. Entergy is monitoring state agency actions and will participate in the regulatory development process. |
Entergy Arkansas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset. The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. The accretion will continue through the completion of the asset retirement activity. The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2016 and 2015 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the fourth quarter 2015, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $24.9 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. In the fourth quarter 2015, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $2.5 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. As a result of the settlement agreement entered into by Entergy and the state of Vermont, Entergy reassessed its assumptions regarding the timing of cash flows. Entergy Vermont Yankee provided to the Vermont parties, in 2014, a site assessment study of the costs and tasks of radiological decommissioning, spent nuclear fuel management, and site restoration for Vermont Yankee. Entergy Vermont Yankee filed its Post-Shutdown Decommissioning Activities Report (PSDAR) for Vermont Yankee with the NRC in December 2014. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with 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. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In the second quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $77.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. In the fourth quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $42.4 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2015. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Pilgrim as a result of a revised decommissioning cost study. The revised estimate resulted in a $134 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant no later than June 2019. The asset retirement cost asset was included in the Pilgrim carrying value that was written down to fair value in the third quarter 2015. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Pilgrim plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually transition to decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. Entergy is monitoring state agency actions and will participate in the regulatory development process. |
Entergy Louisiana [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset. The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. The accretion will continue through the completion of the asset retirement activity. The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2016 and 2015 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the fourth quarter 2015, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $24.9 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. In the fourth quarter 2015, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $2.5 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. As a result of the settlement agreement entered into by Entergy and the state of Vermont, Entergy reassessed its assumptions regarding the timing of cash flows. Entergy Vermont Yankee provided to the Vermont parties, in 2014, a site assessment study of the costs and tasks of radiological decommissioning, spent nuclear fuel management, and site restoration for Vermont Yankee. Entergy Vermont Yankee filed its Post-Shutdown Decommissioning Activities Report (PSDAR) for Vermont Yankee with the NRC in December 2014. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with 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. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In the second quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $77.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. In the fourth quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $42.4 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2015. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Pilgrim as a result of a revised decommissioning cost study. The revised estimate resulted in a $134 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant no later than June 2019. The asset retirement cost asset was included in the Pilgrim carrying value that was written down to fair value in the third quarter 2015. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Pilgrim plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually transition to decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. Entergy is monitoring state agency actions and will participate in the regulatory development process. |
Entergy Mississippi [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset. The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. The accretion will continue through the completion of the asset retirement activity. The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2016 and 2015 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the fourth quarter 2015, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $24.9 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. In the fourth quarter 2015, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $2.5 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. As a result of the settlement agreement entered into by Entergy and the state of Vermont, Entergy reassessed its assumptions regarding the timing of cash flows. Entergy Vermont Yankee provided to the Vermont parties, in 2014, a site assessment study of the costs and tasks of radiological decommissioning, spent nuclear fuel management, and site restoration for Vermont Yankee. Entergy Vermont Yankee filed its Post-Shutdown Decommissioning Activities Report (PSDAR) for Vermont Yankee with the NRC in December 2014. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with 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. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In the second quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $77.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. In the fourth quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $42.4 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2015. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Pilgrim as a result of a revised decommissioning cost study. The revised estimate resulted in a $134 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant no later than June 2019. The asset retirement cost asset was included in the Pilgrim carrying value that was written down to fair value in the third quarter 2015. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Pilgrim plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually transition to decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. Entergy is monitoring state agency actions and will participate in the regulatory development process. |
Entergy New Orleans [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset. The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. The accretion will continue through the completion of the asset retirement activity. The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2016 and 2015 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the fourth quarter 2015, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $24.9 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. In the fourth quarter 2015, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $2.5 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. As a result of the settlement agreement entered into by Entergy and the state of Vermont, Entergy reassessed its assumptions regarding the timing of cash flows. Entergy Vermont Yankee provided to the Vermont parties, in 2014, a site assessment study of the costs and tasks of radiological decommissioning, spent nuclear fuel management, and site restoration for Vermont Yankee. Entergy Vermont Yankee filed its Post-Shutdown Decommissioning Activities Report (PSDAR) for Vermont Yankee with the NRC in December 2014. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with 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. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In the second quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $77.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. In the fourth quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $42.4 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2015. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Pilgrim as a result of a revised decommissioning cost study. The revised estimate resulted in a $134 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant no later than June 2019. The asset retirement cost asset was included in the Pilgrim carrying value that was written down to fair value in the third quarter 2015. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Pilgrim plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually transition to decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. Entergy is monitoring state agency actions and will participate in the regulatory development process. |
Entergy Texas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset. The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. The accretion will continue through the completion of the asset retirement activity. The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2016 and 2015 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the fourth quarter 2015, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $24.9 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. In the fourth quarter 2015, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $2.5 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. As a result of the settlement agreement entered into by Entergy and the state of Vermont, Entergy reassessed its assumptions regarding the timing of cash flows. Entergy Vermont Yankee provided to the Vermont parties, in 2014, a site assessment study of the costs and tasks of radiological decommissioning, spent nuclear fuel management, and site restoration for Vermont Yankee. Entergy Vermont Yankee filed its Post-Shutdown Decommissioning Activities Report (PSDAR) for Vermont Yankee with the NRC in December 2014. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with 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. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In the second quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $77.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. In the fourth quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $42.4 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2015. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Pilgrim as a result of a revised decommissioning cost study. The revised estimate resulted in a $134 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant no later than June 2019. The asset retirement cost asset was included in the Pilgrim carrying value that was written down to fair value in the third quarter 2015. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Pilgrim plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually transition to decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. Entergy is monitoring state agency actions and will participate in the regulatory development process. |
System Energy [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset. The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. The accretion will continue through the completion of the asset retirement activity. The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2016 and 2015 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the fourth quarter 2015, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $24.9 million increase in its decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. In the fourth quarter 2015, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $2.5 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. As a result of the settlement agreement entered into by Entergy and the state of Vermont, Entergy reassessed its assumptions regarding the timing of cash flows. Entergy Vermont Yankee provided to the Vermont parties, in 2014, a site assessment study of the costs and tasks of radiological decommissioning, spent nuclear fuel management, and site restoration for Vermont Yankee. Entergy Vermont Yankee filed its Post-Shutdown Decommissioning Activities Report (PSDAR) for Vermont Yankee with the NRC in December 2014. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with 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. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In the second quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $77.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. In the fourth quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $42.4 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2015. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Pilgrim as a result of a revised decommissioning cost study. The revised estimate resulted in a $134 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant no later than June 2019. The asset retirement cost asset was included in the Pilgrim carrying value that was written down to fair value in the third quarter 2015. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Pilgrim plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually transition to decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. Entergy is monitoring state agency actions and will participate in the regulatory development process. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2016 | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $44.4 million in 2016 , $63.9 million in 2015 , and $59 million in 2014 . As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $3.4 million in 2016 , $4.7 million in 2015 , and $4.8 million in 2014 for Entergy Arkansas and $0.3 million in 2016 , $1.1 million in 2015 , and $1.7 million in 2014 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2016 , $1.6 million in 2015 , and $1.6 million in 2014 . Power Purchase Agreements As of December 31, 2016 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $26.1 million in 2016, $29.9 million in 2015, and $29.2 million in 2014. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases expire in July 2017. Entergy Louisiana is required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt is equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price. As of December 31, 2016 , Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that is recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
Entergy Arkansas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $44.4 million in 2016 , $63.9 million in 2015 , and $59 million in 2014 . As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $3.4 million in 2016 , $4.7 million in 2015 , and $4.8 million in 2014 for Entergy Arkansas and $0.3 million in 2016 , $1.1 million in 2015 , and $1.7 million in 2014 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2016 , $1.6 million in 2015 , and $1.6 million in 2014 . Power Purchase Agreements As of December 31, 2016 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $26.1 million in 2016, $29.9 million in 2015, and $29.2 million in 2014. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases expire in July 2017. Entergy Louisiana is required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt is equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price. As of December 31, 2016 , Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that is recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
Entergy Louisiana [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $44.4 million in 2016 , $63.9 million in 2015 , and $59 million in 2014 . As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $3.4 million in 2016 , $4.7 million in 2015 , and $4.8 million in 2014 for Entergy Arkansas and $0.3 million in 2016 , $1.1 million in 2015 , and $1.7 million in 2014 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2016 , $1.6 million in 2015 , and $1.6 million in 2014 . Power Purchase Agreements As of December 31, 2016 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $26.1 million in 2016, $29.9 million in 2015, and $29.2 million in 2014. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases expire in July 2017. Entergy Louisiana is required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt is equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price. As of December 31, 2016 , Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that is recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
Entergy Mississippi [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $44.4 million in 2016 , $63.9 million in 2015 , and $59 million in 2014 . As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $3.4 million in 2016 , $4.7 million in 2015 , and $4.8 million in 2014 for Entergy Arkansas and $0.3 million in 2016 , $1.1 million in 2015 , and $1.7 million in 2014 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2016 , $1.6 million in 2015 , and $1.6 million in 2014 . Power Purchase Agreements As of December 31, 2016 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $26.1 million in 2016, $29.9 million in 2015, and $29.2 million in 2014. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases expire in July 2017. Entergy Louisiana is required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt is equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price. As of December 31, 2016 , Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that is recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
Entergy New Orleans [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $44.4 million in 2016 , $63.9 million in 2015 , and $59 million in 2014 . As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $3.4 million in 2016 , $4.7 million in 2015 , and $4.8 million in 2014 for Entergy Arkansas and $0.3 million in 2016 , $1.1 million in 2015 , and $1.7 million in 2014 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2016 , $1.6 million in 2015 , and $1.6 million in 2014 . Power Purchase Agreements As of December 31, 2016 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $26.1 million in 2016, $29.9 million in 2015, and $29.2 million in 2014. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases expire in July 2017. Entergy Louisiana is required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt is equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price. As of December 31, 2016 , Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that is recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
Entergy Texas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $44.4 million in 2016 , $63.9 million in 2015 , and $59 million in 2014 . As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $3.4 million in 2016 , $4.7 million in 2015 , and $4.8 million in 2014 for Entergy Arkansas and $0.3 million in 2016 , $1.1 million in 2015 , and $1.7 million in 2014 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2016 , $1.6 million in 2015 , and $1.6 million in 2014 . Power Purchase Agreements As of December 31, 2016 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $26.1 million in 2016, $29.9 million in 2015, and $29.2 million in 2014. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases expire in July 2017. Entergy Louisiana is required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt is equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price. As of December 31, 2016 , Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that is recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
System Energy [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $44.4 million in 2016 , $63.9 million in 2015 , and $59 million in 2014 . As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $3.4 million in 2016 , $4.7 million in 2015 , and $4.8 million in 2014 for Entergy Arkansas and $0.3 million in 2016 , $1.1 million in 2015 , and $1.7 million in 2014 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2016 , $1.6 million in 2015 , and $1.6 million in 2014 . Power Purchase Agreements As of December 31, 2016 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $26.1 million in 2016, $29.9 million in 2015, and $29.2 million in 2014. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases expire in July 2017. Entergy Louisiana is required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt is equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price. As of December 31, 2016 , Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that is recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million and $55.6 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
Retirement, Other Postretiremen
Retirement, Other Postretirement Benefits, And Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2016 | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan III,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees was merged with and into the Entergy Corporation Retirement Plan II for Non-Bargaining Employees. There is no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.” The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $6.7 billion and $6.3 billion at December 31, 2016 and 2015 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2016 and 2015 was as follows: December 31, 2016 2015 (In Thousands) Entergy Arkansas $1,379,265 $1,309,903 Entergy Louisiana $1,513,884 $1,436,535 Entergy Mississippi $396,081 $379,775 Entergy New Orleans $186,247 $176,692 Entergy Texas $365,251 $359,687 System Energy $315,131 $286,917 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $24.9 million in 2016 , $22.8 million in 2015 , and $32.4 million in 2014 . In 2016 , 2015 , and 2014 Entergy recognized $8.1 million , $5.1 million , and $15.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $169.3 million and $157.3 million as of December 31, 2016 and 2015 , respectively. The accumulated benefit obligation was $151 million and $137.6 million as of December 31, 2016 and 2015 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2016 and 2015 was $137.6 million and $136.1 million , respectively; and its current liability was $31.7 million and $21.2 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $59.8 million at December 31, 2016 and $58.8 million at December 31, 2015 ) and accumulated other comprehensive income before taxes ( $31.6 million at December 31, 2016 and $23.5 million at December 31, 2015 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas ( |
Entergy Arkansas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan III,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees was merged with and into the Entergy Corporation Retirement Plan II for Non-Bargaining Employees. There is no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.” The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $6.7 billion and $6.3 billion at December 31, 2016 and 2015 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2016 and 2015 was as follows: December 31, 2016 2015 (In Thousands) Entergy Arkansas $1,379,265 $1,309,903 Entergy Louisiana $1,513,884 $1,436,535 Entergy Mississippi $396,081 $379,775 Entergy New Orleans $186,247 $176,692 Entergy Texas $365,251 $359,687 System Energy $315,131 $286,917 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $24.9 million in 2016 , $22.8 million in 2015 , and $32.4 million in 2014 . In 2016 , 2015 , and 2014 Entergy recognized $8.1 million , $5.1 million , and $15.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $169.3 million and $157.3 million as of December 31, 2016 and 2015 , respectively. The accumulated benefit obligation was $151 million and $137.6 million as of December 31, 2016 and 2015 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2016 and 2015 was $137.6 million and $136.1 million , respectively; and its current liability was $31.7 million and $21.2 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $59.8 million at December 31, 2016 and $58.8 million at December 31, 2015 ) and accumulated other comprehensive income before taxes ( $31.6 million at December 31, 2016 and $23.5 million at December 31, 2015 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas ( |
Entergy Louisiana [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan III,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees was merged with and into the Entergy Corporation Retirement Plan II for Non-Bargaining Employees. There is no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.” The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $6.7 billion and $6.3 billion at December 31, 2016 and 2015 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2016 and 2015 was as follows: December 31, 2016 2015 (In Thousands) Entergy Arkansas $1,379,265 $1,309,903 Entergy Louisiana $1,513,884 $1,436,535 Entergy Mississippi $396,081 $379,775 Entergy New Orleans $186,247 $176,692 Entergy Texas $365,251 $359,687 System Energy $315,131 $286,917 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $24.9 million in 2016 , $22.8 million in 2015 , and $32.4 million in 2014 . In 2016 , 2015 , and 2014 Entergy recognized $8.1 million , $5.1 million , and $15.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $169.3 million and $157.3 million as of December 31, 2016 and 2015 , respectively. The accumulated benefit obligation was $151 million and $137.6 million as of December 31, 2016 and 2015 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2016 and 2015 was $137.6 million and $136.1 million , respectively; and its current liability was $31.7 million and $21.2 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $59.8 million at December 31, 2016 and $58.8 million at December 31, 2015 ) and accumulated other comprehensive income before taxes ( $31.6 million at December 31, 2016 and $23.5 million at December 31, 2015 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas ( |
Entergy Mississippi [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan III,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees was merged with and into the Entergy Corporation Retirement Plan II for Non-Bargaining Employees. There is no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.” The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $6.7 billion and $6.3 billion at December 31, 2016 and 2015 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2016 and 2015 was as follows: December 31, 2016 2015 (In Thousands) Entergy Arkansas $1,379,265 $1,309,903 Entergy Louisiana $1,513,884 $1,436,535 Entergy Mississippi $396,081 $379,775 Entergy New Orleans $186,247 $176,692 Entergy Texas $365,251 $359,687 System Energy $315,131 $286,917 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $24.9 million in 2016 , $22.8 million in 2015 , and $32.4 million in 2014 . In 2016 , 2015 , and 2014 Entergy recognized $8.1 million , $5.1 million , and $15.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $169.3 million and $157.3 million as of December 31, 2016 and 2015 , respectively. The accumulated benefit obligation was $151 million and $137.6 million as of December 31, 2016 and 2015 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2016 and 2015 was $137.6 million and $136.1 million , respectively; and its current liability was $31.7 million and $21.2 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $59.8 million at December 31, 2016 and $58.8 million at December 31, 2015 ) and accumulated other comprehensive income before taxes ( $31.6 million at December 31, 2016 and $23.5 million at December 31, 2015 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas ( |
Entergy New Orleans [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan III,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees was merged with and into the Entergy Corporation Retirement Plan II for Non-Bargaining Employees. There is no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.” The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $6.7 billion and $6.3 billion at December 31, 2016 and 2015 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2016 and 2015 was as follows: December 31, 2016 2015 (In Thousands) Entergy Arkansas $1,379,265 $1,309,903 Entergy Louisiana $1,513,884 $1,436,535 Entergy Mississippi $396,081 $379,775 Entergy New Orleans $186,247 $176,692 Entergy Texas $365,251 $359,687 System Energy $315,131 $286,917 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $24.9 million in 2016 , $22.8 million in 2015 , and $32.4 million in 2014 . In 2016 , 2015 , and 2014 Entergy recognized $8.1 million , $5.1 million , and $15.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $169.3 million and $157.3 million as of December 31, 2016 and 2015 , respectively. The accumulated benefit obligation was $151 million and $137.6 million as of December 31, 2016 and 2015 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2016 and 2015 was $137.6 million and $136.1 million , respectively; and its current liability was $31.7 million and $21.2 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $59.8 million at December 31, 2016 and $58.8 million at December 31, 2015 ) and accumulated other comprehensive income before taxes ( $31.6 million at December 31, 2016 and $23.5 million at December 31, 2015 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas ( |
Entergy Texas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan III,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees was merged with and into the Entergy Corporation Retirement Plan II for Non-Bargaining Employees. There is no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.” The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $6.7 billion and $6.3 billion at December 31, 2016 and 2015 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2016 and 2015 was as follows: December 31, 2016 2015 (In Thousands) Entergy Arkansas $1,379,265 $1,309,903 Entergy Louisiana $1,513,884 $1,436,535 Entergy Mississippi $396,081 $379,775 Entergy New Orleans $186,247 $176,692 Entergy Texas $365,251 $359,687 System Energy $315,131 $286,917 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $24.9 million in 2016 , $22.8 million in 2015 , and $32.4 million in 2014 . In 2016 , 2015 , and 2014 Entergy recognized $8.1 million , $5.1 million , and $15.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $169.3 million and $157.3 million as of December 31, 2016 and 2015 , respectively. The accumulated benefit obligation was $151 million and $137.6 million as of December 31, 2016 and 2015 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2016 and 2015 was $137.6 million and $136.1 million , respectively; and its current liability was $31.7 million and $21.2 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $59.8 million at December 31, 2016 and $58.8 million at December 31, 2015 ) and accumulated other comprehensive income before taxes ( $31.6 million at December 31, 2016 and $23.5 million at December 31, 2015 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas ( |
System Energy [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has nine qualified pension plans covering substantially all employees. The “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Retirement Plan II for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan II for Bargaining Employees,” “Entergy Corporation Retirement Plan III,” “Entergy Corporation Retirement Plan IV for Non-Bargaining Employees,” and “Entergy Corporation Retirement Plan IV for Bargaining Employees” are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees was merged with and into the Entergy Corporation Retirement Plan II for Non-Bargaining Employees. There is no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees.” Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the “Entergy Corporation Cash Balance Plan for Bargaining Employees.” The Registrant Subsidiaries participate in these four plans: “Entergy Corporation Retirement Plan for Non-Bargaining Employees,” “Entergy Corporation Retirement Plan for Bargaining Employees,” “Entergy Corporation Cash Balance Plan for Non-Bargaining Employees,” and “Entergy Cash Balance Plan for Bargaining Employees.” The assets of the seven final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes. Although assets in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s beneficial interest in the plan assets is maintained by the plan’s actuary and is updated quarterly. Assets for each Registrant Subsidiary are increased for investment net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $6.7 billion and $6.3 billion at December 31, 2016 and 2015 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2016 and 2015 was as follows: December 31, 2016 2015 (In Thousands) Entergy Arkansas $1,379,265 $1,309,903 Entergy Louisiana $1,513,884 $1,436,535 Entergy Mississippi $396,081 $379,775 Entergy New Orleans $186,247 $176,692 Entergy Texas $365,251 $359,687 System Energy $315,131 $286,917 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $24.9 million in 2016 , $22.8 million in 2015 , and $32.4 million in 2014 . In 2016 , 2015 , and 2014 Entergy recognized $8.1 million , $5.1 million , and $15.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $169.3 million and $157.3 million as of December 31, 2016 and 2015 , respectively. The accumulated benefit obligation was $151 million and $137.6 million as of December 31, 2016 and 2015 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2016 and 2015 was $137.6 million and $136.1 million , respectively; and its current liability was $31.7 million and $21.2 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $59.8 million at December 31, 2016 and $58.8 million at December 31, 2015 ) and accumulated other comprehensive income before taxes ( $31.6 million at December 31, 2016 and $23.5 million at December 31, 2015 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2014 net periodic pension cost above are settlement charges of $337 thousand and $16 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas ( |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Share-based Compensation [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans which are shareholder-approved stock-based compensation plans. The Equity Ownership Plan, as restated in February 2003, expired December 31, 2016. Effective January 1, 2007, Entergy’s shareholders approved the 2007 Equity Ownership and Long-Term Cash Incentive Plan (2007 Plan). The maximum aggregate number of common shares that were available for issuance from the 2007 Plan for stock-based awards was 7,000,000 with no more than 2,000,000 available for non-option grants. The 2007 Plan, which only applied to awards granted between January 1, 2007 and May 5, 2011, will expire after 10 years. Effective May 6, 2011, Entergy’s shareholders approved the 2011 Equity Ownership and Long-Term Cash Incentive Plan (2011 Plan). The maximum number of common shares that were available for issuance from the 2011 Plan for stock-based awards was 5,500,000 with no more than 2,000,000 available for incentive stock option grants. The 2011 Plan, which only applied to awards granted between May 6, 2011 and May 7, 2015, will expire after 10 years. Effective May 8, 2015, Entergy’s shareholders approved the 2015 Equity Ownership and Long-Term Cash Incentive Plan (2015 Plan). The maximum number of common shares that can be issued from the 2015 Plan for stock-based awards is 6,900,000 with no more than 1,500,000 available for incentive stock option grants. The 2015 Plan, which only applies to awards granted on or after May 6, 2011, will expire after 10 years. As of December 31, 2016 , there were 5,192,463 authorized shares remaining for stock-based awards, including 1,500,000 for incentive stock option grants. Stock Options Stock options are granted at exercise prices that equal the closing market price of Entergy Corporation common stock on the date of grant. Generally, stock options granted will become exercisable in equal amounts on each of the first three anniversaries of the date of grant. Unless they are forfeited previously under the terms of the grant, options expire 10 years after the date of the grant if they are not exercised. The following table includes financial information for stock options for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $4.4 $4.3 $4.1 Tax benefit recognized in Entergy’s consolidated net income $1.7 $1.6 $1.6 Compensation cost capitalized as part of fixed assets and inventory $0.7 $0.7 $0.7 Entergy determines the fair value of the stock option grants by considering factors such as lack of marketability, stock retention requirements, and regulatory restrictions on exercisability in accordance with accounting standards. The stock option weighted-average assumptions used in determining the fair values are as follows: 2016 2015 2014 Stock price volatility 20.38% 23.62% 24.67% Expected term in years 7.25 7.06 6.95 Risk-free interest rate 1.77% 1.59% 2.16% Dividend yield 4.50% 4.50% 4.75% Dividend payment per share $3.42 $3.34 $3.32 Stock price volatility is calculated based upon the daily public stock price volatility of Entergy Corporation common stock over a period equal to the expected term of the award. The expected term of the options is based upon historical option exercises and the weighted average life of options when exercised and the estimated weighted average life of all vested but unexercised options. In 2008, Entergy implemented stock ownership guidelines for its senior executive officers. These guidelines require an executive officer to own shares of Entergy Corporation common stock equal to a specified multiple of his or her salary. Until an executive officer achieves this ownership position the executive officer is required to retain 75% of the net-of-tax net profit upon exercise of the option to be held in Entergy Corporation common stock. The reduction in fair value of the stock options due to this restriction is based upon an estimate of the call option value of the reinvested gain discounted to present value over the applicable reinvestment period. A summary of stock option activity for the year ended December 31, 2016 and changes during the year are presented below: Number of Options Weighted- Average Exercise Price Aggregate Intrinsic Value Weighted- Average Contractual Life Options outstanding as of January 1, 2016 7,399,820 $84.19 Options granted 696,900 $70.56 Options exercised (488,131 ) $67.83 Options forfeited/expired (471,379 ) $69.99 Options outstanding as of December 31, 2016 7,137,210 $84.91 $— 3.35 years Options exercisable as of December 31, 2016 6,011,816 $86.96 $— 2.38 years Weighted-average grant-date fair value of options granted during 2016 $7.40 The weighted-average grant-date fair value of options granted during the year was $11.41 for 2015 and $8.71 for 2014 . The total intrinsic value of stock options exercised was $5 million during 2016 , $5 million during 2015 , and $26 million during 2014 . The intrinsic value, which has no effect on net income, of the outstanding stock options exercised is calculated by the positive difference between the weighted average exercise price of the stock options granted and Entergy Corporation’s common stock price as of December 31, 2016 . Because Entergy’s year-end stock price was less than the weighted average exercise price, the aggregate intrinsic value of stock options outstanding as of December 31, 2016 was zero . The intrinsic value of “in the money” stock options is $11 million as of December 31, 2016 . Entergy recognizes compensation cost over the vesting period of the options based on their grant-date fair value. The total fair value of options that vested was approximately $5 million during 2016 , $4 million during 2015 , and $4 million during 2014 . Cash received from option exercises was $33 million for the year ended December 31, 2016 . The tax benefits realized from options exercised was $2 million for the year ended December 31, 2016 . The following table summarizes information about stock options outstanding as of December 31, 2016 : Options Outstanding Options Exercisable Range of As of Weighted-Average Remaining Contractual Life-Yrs. Weighted Average Exercise Price Number Exercisable as of Weighted Average Exercise Price Exercise Prices 12/31/2016 12/31/2016 $51 - $64.99 798,308 6.68 $63.75 627,893 $63.90 $65 - $78.99 2,853,753 4.66 $74.47 2,161,853 $75.72 $79 - $91.99 2,050,549 1.84 $91.40 1,787,470 $91.62 $92 - $108.20 1,434,600 1.06 $108.20 1,434,600 $108.20 $51 - $108.20 7,137,210 3.35 $84.91 6,011,816 $86.96 Stock-based compensation cost related to non-vested stock options outstanding as of December 31, 2016 not yet recognized is approximately $6 million and is expected to be recognized over a weighted-average period of 1.70 years. Restricted Stock Awards In January 2016 the Board approved and Entergy granted 370,000 restricted stock awards under the 2015 Equity Ownership and Long-term Cash Incentive 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 Corporation’s common stock on that date. One-third of the restricted stock awards will vest upon each anniversary of the grant date and are expensed ratably over the three year vesting period. Shares of restricted stock have the same dividend and voting rights as other common stock and are considered issued and outstanding shares of Entergy upon vesting. The following table includes information about the restricted stock awards outstanding as of December 31, 2016 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2016 642,729 $75.88 Granted 401,358 $70.89 Vested (324,862 ) $71.83 Forfeited (35,751 ) $77.38 Outstanding shares at December 31, 2016 683,474 $74.80 The following table includes financial information for restricted stock for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $19.8 $19.5 $19.3 Tax benefit recognized in Entergy’s consolidated net income $7.6 $7.5 $7.5 Compensation cost capitalized as part of fixed assets and inventory $4.5 $3.9 $3.1 The total fair value of the restricted stock awards granted was $29 million , $29 million , and $24 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. The total fair value of the restricted stock awards vested was $23 million , $29 million , and $17 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Long-Term Performance Unit Program Entergy grants long-term incentive awards earned under its stock benefit plans in the form of performance units, which represents the value of one share of Entergy Corporation common stock at the end of the three-year performance period, plus dividends accrued during the performance period. The Long-Term Performance Unit Program specifies a minimum, target, and maximum achievement level, the achievement of which will determine the number of performance units that may be earned. Entergy measures performance by assessing Entergy’s total shareholder return relative to the total shareholder return of the companies in the Philadelphia Utility Index. There is no payout for performance that falls within the lowest quartile of performance of the peer companies. For top quartile performance, a maximum payout of 200% of target is earned. The costs of incentive awards are charged to income over the 3 -year period. In January 2016 the Board approved and Entergy granted 199,800 performance units under the 2015 Equity Ownership and Long-Term Cash Incentive Plan. The performance units were made effective as of January 28, 2016, and were valued at $84.52 per share. Shares of the performance units have the same dividend and voting rights as other common stock, are considered issued and outstanding shares of Entergy upon vesting, and are expensed ratably over the 3-year vesting period. The following table includes information about the long-term performance units outstanding at the target level as of December 31, 2016 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2016 568,482 $75.33 Granted 241,236 $85.26 Vested (54,103 ) $65.36 Forfeited (184,064 ) $70.53 Outstanding shares at December 31, 2016 571,551 $82.02 The following table includes financial information for the long-term performance units for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $12.3 $11.8 $10.7 Tax benefit recognized in Entergy’s consolidated net income $4.8 $4.5 $4.1 Compensation cost capitalized as part of fixed assets and inventory $2.9 $2.3 $1.5 The total fair value of the long-term performance units granted was $21 million , $16 million and $16 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. In January 2016, Entergy issued 54,103 shares of Entergy Corporation common stock at a share price of $68.09 for awards earned and dividends accrued under the 2013-2015 Long-Term Performance Unit Program. In January 2015, Entergy issued 105,503 shares of Entergy Corporation common stock at a share price of $88.67 for awards earned and dividends accrued under the 2012-2014 Long-Term Performance Unit Program. There was no payout in 2014 for the performance units applicable to the 2011-2013 Long-Term Performance Unit Program. Restricted Stock Unit Awards Entergy grants restricted stock unit awards earned under its stock benefit plans in the form of stock units that are subject to time-based restrictions. The restricted stock units may be settled in shares of Entergy Corporation common stock or the cash value of shares of Entergy Corporation common stock at the time of vesting. The costs of restricted stock unit awards are charged to income over the restricted period, which varies from grant to grant. The average vesting period for restricted stock unit awards granted is 42 months. As of December 31, 2016 , there were 181,650 unvested restricted stock units that are expected to vest over an average period of 30 months. The following table includes information about the restricted stock unit awards outstanding as of December 31, 2016 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2016 145,018 $72.03 Granted 70,800 $76.25 Vested (30,668 ) $70.66 Forfeited (3,500 ) $66.83 Outstanding shares at December 31, 2016 181,650 $74.94 The following table includes financial information for restricted stock unit awards for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $2.2 $0.9 $2.2 Tax benefit recognized in Entergy’s consolidated net income $0.8 $0.4 $0.9 Compensation cost capitalized as part of fixed assets and inventory $0.4 $0.3 $0.3 The total fair value of the restricted stock unit awards granted was $5 million , $4 million , and $3 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. The total fair value of the restricted stock unit awards vested was $2 million , $4 million , and $3 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Entergy paid $2 million , $1 million , and $2 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively, for awards under the Restricted Stock Units Awards Plan. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 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 is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned termination of the Consumers Energy power purchase agreement for the Palisades plant in 2018 and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2021. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments, employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 In addition, Entergy Wholesale Commodities incurred $2.8 billion in 2016 and $2 billion in 2015 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. In addition, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $100 million in 2017 and approximately $235 million from 2018 through the end of 2021 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2016 , 2015 , and 2014 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2016 and 2015 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Arkansas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 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 is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned termination of the Consumers Energy power purchase agreement for the Palisades plant in 2018 and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2021. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments, employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 In addition, Entergy Wholesale Commodities incurred $2.8 billion in 2016 and $2 billion in 2015 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. In addition, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $100 million in 2017 and approximately $235 million from 2018 through the end of 2021 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2016 , 2015 , and 2014 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2016 and 2015 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Louisiana [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 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 is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned termination of the Consumers Energy power purchase agreement for the Palisades plant in 2018 and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2021. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments, employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 In addition, Entergy Wholesale Commodities incurred $2.8 billion in 2016 and $2 billion in 2015 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. In addition, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $100 million in 2017 and approximately $235 million from 2018 through the end of 2021 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2016 , 2015 , and 2014 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2016 and 2015 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Mississippi [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 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 is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned termination of the Consumers Energy power purchase agreement for the Palisades plant in 2018 and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2021. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments, employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 In addition, Entergy Wholesale Commodities incurred $2.8 billion in 2016 and $2 billion in 2015 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. In addition, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $100 million in 2017 and approximately $235 million from 2018 through the end of 2021 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2016 , 2015 , and 2014 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2016 and 2015 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy New Orleans [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 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 is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned termination of the Consumers Energy power purchase agreement for the Palisades plant in 2018 and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2021. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments, employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 In addition, Entergy Wholesale Commodities incurred $2.8 billion in 2016 and $2 billion in 2015 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. In addition, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $100 million in 2017 and approximately $235 million from 2018 through the end of 2021 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2016 , 2015 , and 2014 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2016 and 2015 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Texas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 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 is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned termination of the Consumers Energy power purchase agreement for the Palisades plant in 2018 and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2021. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments, employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 In addition, Entergy Wholesale Commodities incurred $2.8 billion in 2016 and $2 billion in 2015 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. In addition, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $100 million in 2017 and approximately $235 million from 2018 through the end of 2021 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2016 , 2015 , and 2014 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2016 and 2015 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
System Energy [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 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 is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned termination of the Consumers Energy power purchase agreement for the Palisades plant in 2018 and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2021. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments, employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 In addition, Entergy Wholesale Commodities incurred $2.8 billion in 2016 and $2 billion in 2015 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. In addition, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $100 million in 2017 and approximately $235 million from 2018 through the end of 2021 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2016 , 2015 , and 2014 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2016 and 2015 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Acquisitions, Dispositions, and
Acquisitions, Dispositions, and Impairment of Long-Lived Assets | 12 Months Ended |
Dec. 31, 2016 | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included a unit-contingent, 15 -year purchased power agreement (PPA) with Consumers Energy for 100% of the plant’s output, excluding any future uprates. Prices under the PPA range from $43.50 /MWh in 2007 to $61.50 /MWh in 2022, and the average price under the PPA is $51 /MWh. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $13 million in 2016 , $15 million in 2015 , and $16 million in 2014 . In December 2016, Entergy announced that it has reached an agreement with Consumers Energy to terminate the PPA early, on May 31, 2018, subject to regulatory approvals. Because of entering into the early termination agreement, Entergy expects to amortize approximately $43 million of the liability to revenue in 2017 and $29 million to revenue in 2018. The timing of the liability amortization could fluctuate further depending upon if, and when, regulatory approval of the early termination agreement is received. See further discussion of the Palisades transaction below. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. In 2014 , Entergy Wholesale Commodities recorded approximately $72 million as plant for generation. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $100 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to the Entergy entity selling the membership interests in Entergy Nuclear Vermont Yankee. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $45 million as of December 31, 2016, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2016, was approximately $88 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018, subject to obtaining necessary regulatory approvals, in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site restoration, subject to extension not to exceed two years from partial site restoration. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Service Board, including approval of revised site restoration standards that will be proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. The transaction is expected to close by the end of 2018, subject to certain conditions, including the condition that Entergy contribute to the decommissioning trust fund if the value is less than provided for in the agreement with NorthStar. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant to Exelon. The transaction is expected to close in the first half of 2017. The purchase price is $100 million and the assumption by Exelon of certain liabilities related to the FitzPatrick plant, with an additional $10 million non-refundable signing fee, which was paid upon the signing of the agreement. The transaction is contingent upon, among other things, the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the receipt of necessary regulatory approvals from the FERC, the NRC, and the Public Service Commission of the State of New York (NYPSC), and the receipt of a private letter ruling from the IRS. NRC approval has not yet been received, but all other necessary regulatory approvals have been received. Because certain specified conditions were satisfied in November 2016, including the continued effectiveness of the Clean Energy Standards/Zero Emissions Credit program (CES/ZEC), the establishment of certain long-term agreements on acceptable terms with the Energy Research and Development Authority of the State of New York in connection with the CES/ZEC program, and NYPSC approval of the transaction on acceptable terms, Entergy refueled the FitzPatrick plant in January and February 2017. Entergy expects to operate the FitzPatrick plant until the asset purchase agreement closing date. Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon will reimburse Entergy for specified out-of-pocket costs associated with the refueling and operation of FitzPatrick that otherwise would have been avoided had Entergy shut down FitzPatrick in January 2017. Pursuant to the reimbursement agreement, as of December 31, 2016 Exelon reimbursed Entergy $56 million for nuclear fuel expenses and $41 million for other operation and maintenance expenses associated with preparing to refuel FitzPatrick in 2017. If the asset purchase agreement is terminated, a termination fee of up to $30 million will be payable to Entergy under certain circumstances. If it is consummated, the transaction could result in a gain or loss because of fluctuations in the decommissioning trust fund earnings and asset retirement obligation accretion. Upon the closing of the sale, the FitzPatrick decommissioning trust along with the decommissioning obligation for that plant will be transfered to Exelon. As a result of the agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon are classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet. As of December 31, 2016, the $785 million receivable for the beneficial interest in the decommissioning trust fund within other deferred debits and the $714 million asset retirement obligation within other non-current liabilities are classified as held for sale. The transaction also includes property, plant, and equipment with a net book value of zero . Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2016 Impairment Conclusions In December 2016, Entergy reached an agreement with Consumers Energy to terminate the PPA for the Palisades plant after May 2018. The agreement is subject to regulatory approvals. Assuming regulatory approvals are obtained Entergy determined that it will close the Palisades plant on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State has agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also has agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets is $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades is $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million includes the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets is $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point is $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million includes the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its current fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point, in the fourth quarter 2015. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of December 31, 2015, the net carrying value of Indian Point, including nuclear fuel, was $2,360 million . As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Pilgrim decommissioning cost revision. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. 2014 Impairment Conclusion In August 2013, the Board approved a plan to close and decommission Vermont Yankee at the end of its fuel cycle at the end of 2014. As a result of the decision to shut down the plant, Entergy recognized impairment and other related charges during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. See Note 9 to the financial statements for further discussion regarding the Vermont Yankee decommissioning cost revisions. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through 2021 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Indian Point, Pilgrim, and Palisades were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets: Significant Unobservable Inputs Amount Weighted Average 2016 Weighted average cost of capital Indian Point (a) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (c) 17.8%-38.8% 34.6% 2015 Weighted average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (d) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (d) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% (a) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that originally was scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. (d) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Entergy Arkansas [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included a unit-contingent, 15 -year purchased power agreement (PPA) with Consumers Energy for 100% of the plant’s output, excluding any future uprates. Prices under the PPA range from $43.50 /MWh in 2007 to $61.50 /MWh in 2022, and the average price under the PPA is $51 /MWh. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $13 million in 2016 , $15 million in 2015 , and $16 million in 2014 . In December 2016, Entergy announced that it has reached an agreement with Consumers Energy to terminate the PPA early, on May 31, 2018, subject to regulatory approvals. Because of entering into the early termination agreement, Entergy expects to amortize approximately $43 million of the liability to revenue in 2017 and $29 million to revenue in 2018. The timing of the liability amortization could fluctuate further depending upon if, and when, regulatory approval of the early termination agreement is received. See further discussion of the Palisades transaction below. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. In 2014 , Entergy Wholesale Commodities recorded approximately $72 million as plant for generation. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $100 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to the Entergy entity selling the membership interests in Entergy Nuclear Vermont Yankee. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $45 million as of December 31, 2016, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2016, was approximately $88 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018, subject to obtaining necessary regulatory approvals, in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site restoration, subject to extension not to exceed two years from partial site restoration. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Service Board, including approval of revised site restoration standards that will be proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. The transaction is expected to close by the end of 2018, subject to certain conditions, including the condition that Entergy contribute to the decommissioning trust fund if the value is less than provided for in the agreement with NorthStar. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant to Exelon. The transaction is expected to close in the first half of 2017. The purchase price is $100 million and the assumption by Exelon of certain liabilities related to the FitzPatrick plant, with an additional $10 million non-refundable signing fee, which was paid upon the signing of the agreement. The transaction is contingent upon, among other things, the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the receipt of necessary regulatory approvals from the FERC, the NRC, and the Public Service Commission of the State of New York (NYPSC), and the receipt of a private letter ruling from the IRS. NRC approval has not yet been received, but all other necessary regulatory approvals have been received. Because certain specified conditions were satisfied in November 2016, including the continued effectiveness of the Clean Energy Standards/Zero Emissions Credit program (CES/ZEC), the establishment of certain long-term agreements on acceptable terms with the Energy Research and Development Authority of the State of New York in connection with the CES/ZEC program, and NYPSC approval of the transaction on acceptable terms, Entergy refueled the FitzPatrick plant in January and February 2017. Entergy expects to operate the FitzPatrick plant until the asset purchase agreement closing date. Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon will reimburse Entergy for specified out-of-pocket costs associated with the refueling and operation of FitzPatrick that otherwise would have been avoided had Entergy shut down FitzPatrick in January 2017. Pursuant to the reimbursement agreement, as of December 31, 2016 Exelon reimbursed Entergy $56 million for nuclear fuel expenses and $41 million for other operation and maintenance expenses associated with preparing to refuel FitzPatrick in 2017. If the asset purchase agreement is terminated, a termination fee of up to $30 million will be payable to Entergy under certain circumstances. If it is consummated, the transaction could result in a gain or loss because of fluctuations in the decommissioning trust fund earnings and asset retirement obligation accretion. Upon the closing of the sale, the FitzPatrick decommissioning trust along with the decommissioning obligation for that plant will be transfered to Exelon. As a result of the agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon are classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet. As of December 31, 2016, the $785 million receivable for the beneficial interest in the decommissioning trust fund within other deferred debits and the $714 million asset retirement obligation within other non-current liabilities are classified as held for sale. The transaction also includes property, plant, and equipment with a net book value of zero . Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2016 Impairment Conclusions In December 2016, Entergy reached an agreement with Consumers Energy to terminate the PPA for the Palisades plant after May 2018. The agreement is subject to regulatory approvals. Assuming regulatory approvals are obtained Entergy determined that it will close the Palisades plant on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State has agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also has agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets is $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades is $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million includes the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets is $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point is $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million includes the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its current fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point, in the fourth quarter 2015. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of December 31, 2015, the net carrying value of Indian Point, including nuclear fuel, was $2,360 million . As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Pilgrim decommissioning cost revision. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. 2014 Impairment Conclusion In August 2013, the Board approved a plan to close and decommission Vermont Yankee at the end of its fuel cycle at the end of 2014. As a result of the decision to shut down the plant, Entergy recognized impairment and other related charges during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. See Note 9 to the financial statements for further discussion regarding the Vermont Yankee decommissioning cost revisions. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through 2021 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Indian Point, Pilgrim, and Palisades were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets: Significant Unobservable Inputs Amount Weighted Average 2016 Weighted average cost of capital Indian Point (a) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (c) 17.8%-38.8% 34.6% 2015 Weighted average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (d) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (d) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% (a) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that originally was scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. (d) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Entergy Louisiana [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included a unit-contingent, 15 -year purchased power agreement (PPA) with Consumers Energy for 100% of the plant’s output, excluding any future uprates. Prices under the PPA range from $43.50 /MWh in 2007 to $61.50 /MWh in 2022, and the average price under the PPA is $51 /MWh. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $13 million in 2016 , $15 million in 2015 , and $16 million in 2014 . In December 2016, Entergy announced that it has reached an agreement with Consumers Energy to terminate the PPA early, on May 31, 2018, subject to regulatory approvals. Because of entering into the early termination agreement, Entergy expects to amortize approximately $43 million of the liability to revenue in 2017 and $29 million to revenue in 2018. The timing of the liability amortization could fluctuate further depending upon if, and when, regulatory approval of the early termination agreement is received. See further discussion of the Palisades transaction below. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. In 2014 , Entergy Wholesale Commodities recorded approximately $72 million as plant for generation. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $100 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to the Entergy entity selling the membership interests in Entergy Nuclear Vermont Yankee. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $45 million as of December 31, 2016, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2016, was approximately $88 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018, subject to obtaining necessary regulatory approvals, in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site restoration, subject to extension not to exceed two years from partial site restoration. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Service Board, including approval of revised site restoration standards that will be proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. The transaction is expected to close by the end of 2018, subject to certain conditions, including the condition that Entergy contribute to the decommissioning trust fund if the value is less than provided for in the agreement with NorthStar. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant to Exelon. The transaction is expected to close in the first half of 2017. The purchase price is $100 million and the assumption by Exelon of certain liabilities related to the FitzPatrick plant, with an additional $10 million non-refundable signing fee, which was paid upon the signing of the agreement. The transaction is contingent upon, among other things, the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the receipt of necessary regulatory approvals from the FERC, the NRC, and the Public Service Commission of the State of New York (NYPSC), and the receipt of a private letter ruling from the IRS. NRC approval has not yet been received, but all other necessary regulatory approvals have been received. Because certain specified conditions were satisfied in November 2016, including the continued effectiveness of the Clean Energy Standards/Zero Emissions Credit program (CES/ZEC), the establishment of certain long-term agreements on acceptable terms with the Energy Research and Development Authority of the State of New York in connection with the CES/ZEC program, and NYPSC approval of the transaction on acceptable terms, Entergy refueled the FitzPatrick plant in January and February 2017. Entergy expects to operate the FitzPatrick plant until the asset purchase agreement closing date. Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon will reimburse Entergy for specified out-of-pocket costs associated with the refueling and operation of FitzPatrick that otherwise would have been avoided had Entergy shut down FitzPatrick in January 2017. Pursuant to the reimbursement agreement, as of December 31, 2016 Exelon reimbursed Entergy $56 million for nuclear fuel expenses and $41 million for other operation and maintenance expenses associated with preparing to refuel FitzPatrick in 2017. If the asset purchase agreement is terminated, a termination fee of up to $30 million will be payable to Entergy under certain circumstances. If it is consummated, the transaction could result in a gain or loss because of fluctuations in the decommissioning trust fund earnings and asset retirement obligation accretion. Upon the closing of the sale, the FitzPatrick decommissioning trust along with the decommissioning obligation for that plant will be transfered to Exelon. As a result of the agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon are classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet. As of December 31, 2016, the $785 million receivable for the beneficial interest in the decommissioning trust fund within other deferred debits and the $714 million asset retirement obligation within other non-current liabilities are classified as held for sale. The transaction also includes property, plant, and equipment with a net book value of zero . Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2016 Impairment Conclusions In December 2016, Entergy reached an agreement with Consumers Energy to terminate the PPA for the Palisades plant after May 2018. The agreement is subject to regulatory approvals. Assuming regulatory approvals are obtained Entergy determined that it will close the Palisades plant on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State has agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also has agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets is $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades is $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million includes the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets is $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point is $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million includes the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its current fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point, in the fourth quarter 2015. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of December 31, 2015, the net carrying value of Indian Point, including nuclear fuel, was $2,360 million . As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Pilgrim decommissioning cost revision. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. 2014 Impairment Conclusion In August 2013, the Board approved a plan to close and decommission Vermont Yankee at the end of its fuel cycle at the end of 2014. As a result of the decision to shut down the plant, Entergy recognized impairment and other related charges during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. See Note 9 to the financial statements for further discussion regarding the Vermont Yankee decommissioning cost revisions. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through 2021 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Indian Point, Pilgrim, and Palisades were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets: Significant Unobservable Inputs Amount Weighted Average 2016 Weighted average cost of capital Indian Point (a) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (c) 17.8%-38.8% 34.6% 2015 Weighted average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (d) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (d) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% (a) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that originally was scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. (d) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Entergy New Orleans [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included a unit-contingent, 15 -year purchased power agreement (PPA) with Consumers Energy for 100% of the plant’s output, excluding any future uprates. Prices under the PPA range from $43.50 /MWh in 2007 to $61.50 /MWh in 2022, and the average price under the PPA is $51 /MWh. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $13 million in 2016 , $15 million in 2015 , and $16 million in 2014 . In December 2016, Entergy announced that it has reached an agreement with Consumers Energy to terminate the PPA early, on May 31, 2018, subject to regulatory approvals. Because of entering into the early termination agreement, Entergy expects to amortize approximately $43 million of the liability to revenue in 2017 and $29 million to revenue in 2018. The timing of the liability amortization could fluctuate further depending upon if, and when, regulatory approval of the early termination agreement is received. See further discussion of the Palisades transaction below. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. In 2014 , Entergy Wholesale Commodities recorded approximately $72 million as plant for generation. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $100 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to the Entergy entity selling the membership interests in Entergy Nuclear Vermont Yankee. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $45 million as of December 31, 2016, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2016, was approximately $88 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018, subject to obtaining necessary regulatory approvals, in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site restoration, subject to extension not to exceed two years from partial site restoration. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Service Board, including approval of revised site restoration standards that will be proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. The transaction is expected to close by the end of 2018, subject to certain conditions, including the condition that Entergy contribute to the decommissioning trust fund if the value is less than provided for in the agreement with NorthStar. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant to Exelon. The transaction is expected to close in the first half of 2017. The purchase price is $100 million and the assumption by Exelon of certain liabilities related to the FitzPatrick plant, with an additional $10 million non-refundable signing fee, which was paid upon the signing of the agreement. The transaction is contingent upon, among other things, the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the receipt of necessary regulatory approvals from the FERC, the NRC, and the Public Service Commission of the State of New York (NYPSC), and the receipt of a private letter ruling from the IRS. NRC approval has not yet been received, but all other necessary regulatory approvals have been received. Because certain specified conditions were satisfied in November 2016, including the continued effectiveness of the Clean Energy Standards/Zero Emissions Credit program (CES/ZEC), the establishment of certain long-term agreements on acceptable terms with the Energy Research and Development Authority of the State of New York in connection with the CES/ZEC program, and NYPSC approval of the transaction on acceptable terms, Entergy refueled the FitzPatrick plant in January and February 2017. Entergy expects to operate the FitzPatrick plant until the asset purchase agreement closing date. Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon will reimburse Entergy for specified out-of-pocket costs associated with the refueling and operation of FitzPatrick that otherwise would have been avoided had Entergy shut down FitzPatrick in January 2017. Pursuant to the reimbursement agreement, as of December 31, 2016 Exelon reimbursed Entergy $56 million for nuclear fuel expenses and $41 million for other operation and maintenance expenses associated with preparing to refuel FitzPatrick in 2017. If the asset purchase agreement is terminated, a termination fee of up to $30 million will be payable to Entergy under certain circumstances. If it is consummated, the transaction could result in a gain or loss because of fluctuations in the decommissioning trust fund earnings and asset retirement obligation accretion. Upon the closing of the sale, the FitzPatrick decommissioning trust along with the decommissioning obligation for that plant will be transfered to Exelon. As a result of the agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon are classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet. As of December 31, 2016, the $785 million receivable for the beneficial interest in the decommissioning trust fund within other deferred debits and the $714 million asset retirement obligation within other non-current liabilities are classified as held for sale. The transaction also includes property, plant, and equipment with a net book value of zero . Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2016 Impairment Conclusions In December 2016, Entergy reached an agreement with Consumers Energy to terminate the PPA for the Palisades plant after May 2018. The agreement is subject to regulatory approvals. Assuming regulatory approvals are obtained Entergy determined that it will close the Palisades plant on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State has agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also has agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets is $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades is $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million includes the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets is $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point is $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million includes the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its current fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point, in the fourth quarter 2015. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of December 31, 2015, the net carrying value of Indian Point, including nuclear fuel, was $2,360 million . As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Pilgrim decommissioning cost revision. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. 2014 Impairment Conclusion In August 2013, the Board approved a plan to close and decommission Vermont Yankee at the end of its fuel cycle at the end of 2014. As a result of the decision to shut down the plant, Entergy recognized impairment and other related charges during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. As part of the development of the site assessment study and PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2014. The revised estimate, along with reassessment of the assumptions regarding the timing of decommissioning cash flows, resulted in a $101.6 million increase in the decommissioning cost liability and a corresponding impairment charge, recorded in September 2014. See Note 9 to the financial statements for further discussion regarding the Vermont Yankee decommissioning cost revisions. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through 2021 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Indian Point, Pilgrim, and Palisades were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets: Significant Unobservable Inputs Amount Weighted Average 2016 Weighted average cost of capital Indian Point (a) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (c) 17.8%-38.8% 34.6% 2015 Weighted average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (d) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (d) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% (a) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that originally was scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. (d) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Risk Management And Fair Values
Risk Management And Fair Values | 12 Months Ended |
Dec. 31, 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 December 31, 2016 is approximately 2.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 87% for 2017 , of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2017 is 27.3 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2016 , derivative contracts with 3 counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of December 31, 2015 , derivative contracts with 2 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 December 31, 2016 is 37,970,000 MMBtu for Entergy, including 30,940,000 MMBtu for Entergy Louisiana, 6,540,000 MMBtu for Entergy Mississippi, and 490,000 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 financial transmission right (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 December 31, 2016 is 46,216 GWh for Entergy, including 10,540 GWh for Entergy Arkansas, 19,467 GWh for Entergy Louisiana, 7,535 GWh for Entergy Mississippi, 2,234 GWh for Entergy New Orleans, and 6,248 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. As of December 31, 2016, letters of credit posted with MISO covered the FTR exposure for Entergy Arkansas and Entergy Mississippi. As of December 31, 2015, no cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($356) thousand , $150 thousand , and $7 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Based on market prices as of December 31, 2016 , unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled ($9) million of net unrealized gains. Approximately ($15) 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. 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 investments 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 effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of FTRs are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2016 and |
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 December 31, 2016 is approximately 2.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 87% for 2017 , of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2017 is 27.3 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2016 , derivative contracts with 3 counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of December 31, 2015 , derivative contracts with 2 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 December 31, 2016 is 37,970,000 MMBtu for Entergy, including 30,940,000 MMBtu for Entergy Louisiana, 6,540,000 MMBtu for Entergy Mississippi, and 490,000 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 financial transmission right (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 December 31, 2016 is 46,216 GWh for Entergy, including 10,540 GWh for Entergy Arkansas, 19,467 GWh for Entergy Louisiana, 7,535 GWh for Entergy Mississippi, 2,234 GWh for Entergy New Orleans, and 6,248 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. As of December 31, 2016, letters of credit posted with MISO covered the FTR exposure for Entergy Arkansas and Entergy Mississippi. As of December 31, 2015, no cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($356) thousand , $150 thousand , and $7 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Based on market prices as of December 31, 2016 , unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled ($9) million of net unrealized gains. Approximately ($15) 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. 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 investments 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 effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of FTRs are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2016 and |
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 December 31, 2016 is approximately 2.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 87% for 2017 , of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2017 is 27.3 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2016 , derivative contracts with 3 counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of December 31, 2015 , derivative contracts with 2 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 December 31, 2016 is 37,970,000 MMBtu for Entergy, including 30,940,000 MMBtu for Entergy Louisiana, 6,540,000 MMBtu for Entergy Mississippi, and 490,000 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 financial transmission right (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 December 31, 2016 is 46,216 GWh for Entergy, including 10,540 GWh for Entergy Arkansas, 19,467 GWh for Entergy Louisiana, 7,535 GWh for Entergy Mississippi, 2,234 GWh for Entergy New Orleans, and 6,248 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. As of December 31, 2016, letters of credit posted with MISO covered the FTR exposure for Entergy Arkansas and Entergy Mississippi. As of December 31, 2015, no cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($356) thousand , $150 thousand , and $7 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Based on market prices as of December 31, 2016 , unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled ($9) million of net unrealized gains. Approximately ($15) 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. 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 investments 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 effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of FTRs are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2016 and |
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 December 31, 2016 is approximately 2.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 87% for 2017 , of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2017 is 27.3 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2016 , derivative contracts with 3 counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of December 31, 2015 , derivative contracts with 2 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 December 31, 2016 is 37,970,000 MMBtu for Entergy, including 30,940,000 MMBtu for Entergy Louisiana, 6,540,000 MMBtu for Entergy Mississippi, and 490,000 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 financial transmission right (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 December 31, 2016 is 46,216 GWh for Entergy, including 10,540 GWh for Entergy Arkansas, 19,467 GWh for Entergy Louisiana, 7,535 GWh for Entergy Mississippi, 2,234 GWh for Entergy New Orleans, and 6,248 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. As of December 31, 2016, letters of credit posted with MISO covered the FTR exposure for Entergy Arkansas and Entergy Mississippi. As of December 31, 2015, no cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($356) thousand , $150 thousand , and $7 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Based on market prices as of December 31, 2016 , unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled ($9) million of net unrealized gains. Approximately ($15) 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. 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 investments 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 effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of FTRs are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2016 and |
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 December 31, 2016 is approximately 2.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 87% for 2017 , of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2017 is 27.3 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2016 , derivative contracts with 3 counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of December 31, 2015 , derivative contracts with 2 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 December 31, 2016 is 37,970,000 MMBtu for Entergy, including 30,940,000 MMBtu for Entergy Louisiana, 6,540,000 MMBtu for Entergy Mississippi, and 490,000 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 financial transmission right (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 December 31, 2016 is 46,216 GWh for Entergy, including 10,540 GWh for Entergy Arkansas, 19,467 GWh for Entergy Louisiana, 7,535 GWh for Entergy Mississippi, 2,234 GWh for Entergy New Orleans, and 6,248 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. As of December 31, 2016, letters of credit posted with MISO covered the FTR exposure for Entergy Arkansas and Entergy Mississippi. As of December 31, 2015, no cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($356) thousand , $150 thousand , and $7 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Based on market prices as of December 31, 2016 , unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled ($9) million of net unrealized gains. Approximately ($15) 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. 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 investments 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 effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of FTRs are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2016 and |
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 December 31, 2016 is approximately 2.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 87% for 2017 , of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2017 is 27.3 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2016 , derivative contracts with 3 counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of December 31, 2015 , derivative contracts with 2 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 December 31, 2016 is 37,970,000 MMBtu for Entergy, including 30,940,000 MMBtu for Entergy Louisiana, 6,540,000 MMBtu for Entergy Mississippi, and 490,000 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 financial transmission right (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 December 31, 2016 is 46,216 GWh for Entergy, including 10,540 GWh for Entergy Arkansas, 19,467 GWh for Entergy Louisiana, 7,535 GWh for Entergy Mississippi, 2,234 GWh for Entergy New Orleans, and 6,248 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. As of December 31, 2016, letters of credit posted with MISO covered the FTR exposure for Entergy Arkansas and Entergy Mississippi. As of December 31, 2015, no cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($356) thousand , $150 thousand , and $7 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Based on market prices as of December 31, 2016 , unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled ($9) million of net unrealized gains. Approximately ($15) 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. 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 investments 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 effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of FTRs are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2016 and |
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 December 31, 2016 is approximately 2.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 87% for 2017 , of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2017 is 27.3 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2016 , derivative contracts with 3 counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of December 31, 2015 , derivative contracts with 2 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 December 31, 2016 is 37,970,000 MMBtu for Entergy, including 30,940,000 MMBtu for Entergy Louisiana, 6,540,000 MMBtu for Entergy Mississippi, and 490,000 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 financial transmission right (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 December 31, 2016 is 46,216 GWh for Entergy, including 10,540 GWh for Entergy Arkansas, 19,467 GWh for Entergy Louisiana, 7,535 GWh for Entergy Mississippi, 2,234 GWh for Entergy New Orleans, and 6,248 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. As of December 31, 2016, letters of credit posted with MISO covered the FTR exposure for Entergy Arkansas and Entergy Mississippi. As of December 31, 2015, no cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($356) thousand , $150 thousand , and $7 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Based on market prices as of December 31, 2016 , unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled ($9) million of net unrealized gains. Approximately ($15) 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. 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 investments 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 effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of FTRs are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2016 and |
Decommissioning Trust Funds
Decommissioning Trust Funds | 12 Months Ended |
Dec. 31, 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, Indian Point 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund is recorded in other deferred debits on the consolidated balance sheet. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund is classified as held for sale within other deferred debits on the consolidated balance sheet. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $3,511 $1,673 $1 $3,195 $1,396 $2 Debt Securities 2,213 34 27 2,155 41 17 Total $5,724 $1,707 $28 $5,350 $1,437 $19 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $399 million and $342 million as of December 31, 2016 and 2015 , respectively. The amortized cost of debt securities was $2,212 million as of December 31, 2016 and $2,124 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.21% , an average duration of approximately 5.89 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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $23 $1 $1,169 $26 $54 $2 $1,031 $15 More than 12 months 1 — 20 1 1 — 61 2 Total $24 $1 $1,189 $27 $55 $2 $1,092 $17 The unrealized losses in excess of twelve months on equity securities above relate to Entergy’s Utility operating companies and System Energy. The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $125 $77 1 year - 5 years 763 857 5 years - 10 years 719 704 10 years - 15 years 109 124 15 years - 20 years 73 50 20 years+ 424 343 Total $2,213 $2,155 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $2,409 million , $2,492 million , and $1,872 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $32 million , $72 million , and $39 million , respectively, and gross losses of $13 million , $13 million , and $8 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $525.4 $281.5 $— $467.4 $234.4 $0.2 Debt Securities 309.3 3.4 4.2 303.9 4.1 2.2 Total $834.7 $284.9 $4.2 $771.3 $238.5 $2.4 The amortized cost of debt securities was $310.1 million as of December 31, 2016 and $301.8 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 2.65% , an average duration of approximately 5.37 years, and an average maturity of approximately 6.31 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $146.7 $4.2 $7.8 $0.2 $111.4 $1.7 More than 12 months — — — — — — 18.5 0.5 Total $— $— $146.7 $4.2 $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $16.7 $1.8 1 year - 5 years 106.2 145.2 5 years - 10 years 161.2 138.5 10 years - 15 years 7.7 2.4 15 years - 20 years 1.0 2.0 20 years+ 16.5 14.0 Total $309.3 $303.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $197.4 million , $213 million , and $181.5 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $1.8 million , $5.9 million , and $8.7 million , respectively, and gross losses of $0.8 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $715.9 $346.6 $— $632.4 $283.7 $0.2 Debt Securities 424.8 8.0 5.0 409.9 13.2 2.4 Total $1,140.7 $354.6 $5.0 $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $421.9 million as of December 31, 2016 and $399.2 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.78% , an average duration of approximately 5.59 years, and an average maturity of approximately 10.99 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $198.8 $4.8 $9.4 $0.2 $124.0 $2.0 More than 12 months — — 4.8 0.2 — — 7.4 0.4 Total $— $— $203.6 $5.0 $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $31.4 $27.1 1 year - 5 years 99.1 124.0 5 years - 10 years 122.8 114.3 10 years - 15 years 41.4 39.3 15 years - 20 years 30.9 26.5 20 years+ 99.2 78.7 Total $424.8 $409.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $219.2 million , $123.5 million , and $216.7 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.9 million , $1.9 million , and $2.2 million , respectively, and gross losses of $0.4 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $473.9 $221.9 $0.1 $423.7 $179.2 $0.3 Debt Securities 306.6 2.0 4.5 277.8 2.2 2.3 Total $780.5 $223.9 $4.6 $701.5 $181.4 $2.6 The amortized cost of debt securities was $309.1 million as of December 31, 2016 and $270.7 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 1.89% , an average duration of approximately 5.04 years, and an average maturity of approximately 6.30 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $220.9 $4.4 $8.3 $0.2 $200.4 $2.2 More than 12 months — 0.1 0.8 0.1 0.9 0.1 5.0 0.1 Total $— $0.1 $221.7 $4.5 $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $6.6 $2.0 1 year - 5 years 188.2 181.2 5 years - 10 years 78.5 63.0 10 years - 15 years 1.3 4.4 15 years - 20 years 7.8 1.6 20 years+ 24.2 25.6 Total $306.6 $277.8 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $499.3 million , $390.4 million , and $392.9 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.5 million , $3.3 million , and $1.8 million , respectively, and gross losses of $1.7 million , $0.5 million , and $0.9 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2016 , 2015 , and 2014 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2016 , 2015 , and 2014 , respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. |
Entergy Arkansas [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund is recorded in other deferred debits on the consolidated balance sheet. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund is classified as held for sale within other deferred debits on the consolidated balance sheet. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $3,511 $1,673 $1 $3,195 $1,396 $2 Debt Securities 2,213 34 27 2,155 41 17 Total $5,724 $1,707 $28 $5,350 $1,437 $19 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $399 million and $342 million as of December 31, 2016 and 2015 , respectively. The amortized cost of debt securities was $2,212 million as of December 31, 2016 and $2,124 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.21% , an average duration of approximately 5.89 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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $23 $1 $1,169 $26 $54 $2 $1,031 $15 More than 12 months 1 — 20 1 1 — 61 2 Total $24 $1 $1,189 $27 $55 $2 $1,092 $17 The unrealized losses in excess of twelve months on equity securities above relate to Entergy’s Utility operating companies and System Energy. The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $125 $77 1 year - 5 years 763 857 5 years - 10 years 719 704 10 years - 15 years 109 124 15 years - 20 years 73 50 20 years+ 424 343 Total $2,213 $2,155 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $2,409 million , $2,492 million , and $1,872 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $32 million , $72 million , and $39 million , respectively, and gross losses of $13 million , $13 million , and $8 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $525.4 $281.5 $— $467.4 $234.4 $0.2 Debt Securities 309.3 3.4 4.2 303.9 4.1 2.2 Total $834.7 $284.9 $4.2 $771.3 $238.5 $2.4 The amortized cost of debt securities was $310.1 million as of December 31, 2016 and $301.8 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 2.65% , an average duration of approximately 5.37 years, and an average maturity of approximately 6.31 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $146.7 $4.2 $7.8 $0.2 $111.4 $1.7 More than 12 months — — — — — — 18.5 0.5 Total $— $— $146.7 $4.2 $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $16.7 $1.8 1 year - 5 years 106.2 145.2 5 years - 10 years 161.2 138.5 10 years - 15 years 7.7 2.4 15 years - 20 years 1.0 2.0 20 years+ 16.5 14.0 Total $309.3 $303.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $197.4 million , $213 million , and $181.5 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $1.8 million , $5.9 million , and $8.7 million , respectively, and gross losses of $0.8 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $715.9 $346.6 $— $632.4 $283.7 $0.2 Debt Securities 424.8 8.0 5.0 409.9 13.2 2.4 Total $1,140.7 $354.6 $5.0 $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $421.9 million as of December 31, 2016 and $399.2 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.78% , an average duration of approximately 5.59 years, and an average maturity of approximately 10.99 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $198.8 $4.8 $9.4 $0.2 $124.0 $2.0 More than 12 months — — 4.8 0.2 — — 7.4 0.4 Total $— $— $203.6 $5.0 $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $31.4 $27.1 1 year - 5 years 99.1 124.0 5 years - 10 years 122.8 114.3 10 years - 15 years 41.4 39.3 15 years - 20 years 30.9 26.5 20 years+ 99.2 78.7 Total $424.8 $409.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $219.2 million , $123.5 million , and $216.7 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.9 million , $1.9 million , and $2.2 million , respectively, and gross losses of $0.4 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $473.9 $221.9 $0.1 $423.7 $179.2 $0.3 Debt Securities 306.6 2.0 4.5 277.8 2.2 2.3 Total $780.5 $223.9 $4.6 $701.5 $181.4 $2.6 The amortized cost of debt securities was $309.1 million as of December 31, 2016 and $270.7 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 1.89% , an average duration of approximately 5.04 years, and an average maturity of approximately 6.30 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $220.9 $4.4 $8.3 $0.2 $200.4 $2.2 More than 12 months — 0.1 0.8 0.1 0.9 0.1 5.0 0.1 Total $— $0.1 $221.7 $4.5 $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $6.6 $2.0 1 year - 5 years 188.2 181.2 5 years - 10 years 78.5 63.0 10 years - 15 years 1.3 4.4 15 years - 20 years 7.8 1.6 20 years+ 24.2 25.6 Total $306.6 $277.8 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $499.3 million , $390.4 million , and $392.9 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.5 million , $3.3 million , and $1.8 million , respectively, and gross losses of $1.7 million , $0.5 million , and $0.9 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2016 , 2015 , and 2014 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2016 , 2015 , and 2014 , respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. |
Entergy Louisiana [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund is recorded in other deferred debits on the consolidated balance sheet. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund is classified as held for sale within other deferred debits on the consolidated balance sheet. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $3,511 $1,673 $1 $3,195 $1,396 $2 Debt Securities 2,213 34 27 2,155 41 17 Total $5,724 $1,707 $28 $5,350 $1,437 $19 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $399 million and $342 million as of December 31, 2016 and 2015 , respectively. The amortized cost of debt securities was $2,212 million as of December 31, 2016 and $2,124 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.21% , an average duration of approximately 5.89 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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $23 $1 $1,169 $26 $54 $2 $1,031 $15 More than 12 months 1 — 20 1 1 — 61 2 Total $24 $1 $1,189 $27 $55 $2 $1,092 $17 The unrealized losses in excess of twelve months on equity securities above relate to Entergy’s Utility operating companies and System Energy. The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $125 $77 1 year - 5 years 763 857 5 years - 10 years 719 704 10 years - 15 years 109 124 15 years - 20 years 73 50 20 years+ 424 343 Total $2,213 $2,155 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $2,409 million , $2,492 million , and $1,872 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $32 million , $72 million , and $39 million , respectively, and gross losses of $13 million , $13 million , and $8 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $525.4 $281.5 $— $467.4 $234.4 $0.2 Debt Securities 309.3 3.4 4.2 303.9 4.1 2.2 Total $834.7 $284.9 $4.2 $771.3 $238.5 $2.4 The amortized cost of debt securities was $310.1 million as of December 31, 2016 and $301.8 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 2.65% , an average duration of approximately 5.37 years, and an average maturity of approximately 6.31 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $146.7 $4.2 $7.8 $0.2 $111.4 $1.7 More than 12 months — — — — — — 18.5 0.5 Total $— $— $146.7 $4.2 $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $16.7 $1.8 1 year - 5 years 106.2 145.2 5 years - 10 years 161.2 138.5 10 years - 15 years 7.7 2.4 15 years - 20 years 1.0 2.0 20 years+ 16.5 14.0 Total $309.3 $303.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $197.4 million , $213 million , and $181.5 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $1.8 million , $5.9 million , and $8.7 million , respectively, and gross losses of $0.8 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $715.9 $346.6 $— $632.4 $283.7 $0.2 Debt Securities 424.8 8.0 5.0 409.9 13.2 2.4 Total $1,140.7 $354.6 $5.0 $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $421.9 million as of December 31, 2016 and $399.2 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.78% , an average duration of approximately 5.59 years, and an average maturity of approximately 10.99 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $198.8 $4.8 $9.4 $0.2 $124.0 $2.0 More than 12 months — — 4.8 0.2 — — 7.4 0.4 Total $— $— $203.6 $5.0 $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $31.4 $27.1 1 year - 5 years 99.1 124.0 5 years - 10 years 122.8 114.3 10 years - 15 years 41.4 39.3 15 years - 20 years 30.9 26.5 20 years+ 99.2 78.7 Total $424.8 $409.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $219.2 million , $123.5 million , and $216.7 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.9 million , $1.9 million , and $2.2 million , respectively, and gross losses of $0.4 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $473.9 $221.9 $0.1 $423.7 $179.2 $0.3 Debt Securities 306.6 2.0 4.5 277.8 2.2 2.3 Total $780.5 $223.9 $4.6 $701.5 $181.4 $2.6 The amortized cost of debt securities was $309.1 million as of December 31, 2016 and $270.7 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 1.89% , an average duration of approximately 5.04 years, and an average maturity of approximately 6.30 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $220.9 $4.4 $8.3 $0.2 $200.4 $2.2 More than 12 months — 0.1 0.8 0.1 0.9 0.1 5.0 0.1 Total $— $0.1 $221.7 $4.5 $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $6.6 $2.0 1 year - 5 years 188.2 181.2 5 years - 10 years 78.5 63.0 10 years - 15 years 1.3 4.4 15 years - 20 years 7.8 1.6 20 years+ 24.2 25.6 Total $306.6 $277.8 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $499.3 million , $390.4 million , and $392.9 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.5 million , $3.3 million , and $1.8 million , respectively, and gross losses of $1.7 million , $0.5 million , and $0.9 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2016 , 2015 , and 2014 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2016 , 2015 , and 2014 , respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. |
System Energy [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values are based on the trust statements received from NYPA and are 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. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund is recorded in other deferred debits on the consolidated balance sheet. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund is classified as held for sale within other deferred debits on the consolidated balance sheet. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $3,511 $1,673 $1 $3,195 $1,396 $2 Debt Securities 2,213 34 27 2,155 41 17 Total $5,724 $1,707 $28 $5,350 $1,437 $19 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $399 million and $342 million as of December 31, 2016 and 2015 , respectively. The amortized cost of debt securities was $2,212 million as of December 31, 2016 and $2,124 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.21% , an average duration of approximately 5.89 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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $23 $1 $1,169 $26 $54 $2 $1,031 $15 More than 12 months 1 — 20 1 1 — 61 2 Total $24 $1 $1,189 $27 $55 $2 $1,092 $17 The unrealized losses in excess of twelve months on equity securities above relate to Entergy’s Utility operating companies and System Energy. The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $125 $77 1 year - 5 years 763 857 5 years - 10 years 719 704 10 years - 15 years 109 124 15 years - 20 years 73 50 20 years+ 424 343 Total $2,213 $2,155 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $2,409 million , $2,492 million , and $1,872 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $32 million , $72 million , and $39 million , respectively, and gross losses of $13 million , $13 million , and $8 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $525.4 $281.5 $— $467.4 $234.4 $0.2 Debt Securities 309.3 3.4 4.2 303.9 4.1 2.2 Total $834.7 $284.9 $4.2 $771.3 $238.5 $2.4 The amortized cost of debt securities was $310.1 million as of December 31, 2016 and $301.8 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 2.65% , an average duration of approximately 5.37 years, and an average maturity of approximately 6.31 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $146.7 $4.2 $7.8 $0.2 $111.4 $1.7 More than 12 months — — — — — — 18.5 0.5 Total $— $— $146.7 $4.2 $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $16.7 $1.8 1 year - 5 years 106.2 145.2 5 years - 10 years 161.2 138.5 10 years - 15 years 7.7 2.4 15 years - 20 years 1.0 2.0 20 years+ 16.5 14.0 Total $309.3 $303.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $197.4 million , $213 million , and $181.5 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $1.8 million , $5.9 million , and $8.7 million , respectively, and gross losses of $0.8 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $715.9 $346.6 $— $632.4 $283.7 $0.2 Debt Securities 424.8 8.0 5.0 409.9 13.2 2.4 Total $1,140.7 $354.6 $5.0 $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $421.9 million as of December 31, 2016 and $399.2 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 3.78% , an average duration of approximately 5.59 years, and an average maturity of approximately 10.99 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $198.8 $4.8 $9.4 $0.2 $124.0 $2.0 More than 12 months — — 4.8 0.2 — — 7.4 0.4 Total $— $— $203.6 $5.0 $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $31.4 $27.1 1 year - 5 years 99.1 124.0 5 years - 10 years 122.8 114.3 10 years - 15 years 41.4 39.3 15 years - 20 years 30.9 26.5 20 years+ 99.2 78.7 Total $424.8 $409.9 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $219.2 million , $123.5 million , and $216.7 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.9 million , $1.9 million , and $2.2 million , respectively, and gross losses of $0.4 million , $0.3 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $473.9 $221.9 $0.1 $423.7 $179.2 $0.3 Debt Securities 306.6 2.0 4.5 277.8 2.2 2.3 Total $780.5 $223.9 $4.6 $701.5 $181.4 $2.6 The amortized cost of debt securities was $309.1 million as of December 31, 2016 and $270.7 million as of December 31, 2015 . As of December 31, 2016 , the debt securities have an average coupon rate of approximately 1.89% , an average duration of approximately 5.04 years, and an average maturity of approximately 6.30 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $220.9 $4.4 $8.3 $0.2 $200.4 $2.2 More than 12 months — 0.1 0.8 0.1 0.9 0.1 5.0 0.1 Total $— $0.1 $221.7 $4.5 $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $6.6 $2.0 1 year - 5 years 188.2 181.2 5 years - 10 years 78.5 63.0 10 years - 15 years 1.3 4.4 15 years - 20 years 7.8 1.6 20 years+ 24.2 25.6 Total $306.6 $277.8 During the years ended December 31, 2016 , 2015 , and 2014 , proceeds from the dispositions of securities amounted to $499.3 million , $390.4 million , and $392.9 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , gross gains of $3.5 million , $3.3 million , and $1.8 million , respectively, and gross losses of $1.7 million , $0.5 million , and $0.9 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2016 , 2015 , and 2014 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2016 , 2015 , and 2014 , respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2016 | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016, $28.8 million in 2015 , and $31 million in 2014 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2016 , $52.3 million in 2015 , and $51.6 million in 2014 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Arkansas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016, $28.8 million in 2015 , and $31 million in 2014 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2016 , $52.3 million in 2015 , and $51.6 million in 2014 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Louisiana [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016, $28.8 million in 2015 , and $31 million in 2014 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2016 , $52.3 million in 2015 , and $51.6 million in 2014 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Mississippi [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016, $28.8 million in 2015 , and $31 million in 2014 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2016 , $52.3 million in 2015 , and $51.6 million in 2014 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy New Orleans [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016, $28.8 million in 2015 , and $31 million in 2014 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2016 , $52.3 million in 2015 , and $51.6 million in 2014 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Texas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016, $28.8 million in 2015 , and $31 million in 2014 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2016 , $52.3 million in 2015 , and $51.6 million in 2014 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
System Energy [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016, $28.8 million in 2015 , and $31 million in 2014 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2016 , $52.3 million in 2015 , and $51.6 million in 2014 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Transactions With Affiliates
Transactions With Affiliates | 12 Months Ended |
Dec. 31, 2016 | |
Entergy Arkansas [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.7 million in 2016, $24.5 million in 2015, and $23.1 million in 2014. Entergy’s operating transactions with its other equity method investees were not significant in 2016 , 2015 , or 2014 . |
Entergy Louisiana [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.7 million in 2016, $24.5 million in 2015, and $23.1 million in 2014. Entergy’s operating transactions with its other equity method investees were not significant in 2016 , 2015 , or 2014 . |
Entergy Mississippi [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.7 million in 2016, $24.5 million in 2015, and $23.1 million in 2014. Entergy’s operating transactions with its other equity method investees were not significant in 2016 , 2015 , or 2014 . |
Entergy New Orleans [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.7 million in 2016, $24.5 million in 2015, and $23.1 million in 2014. Entergy’s operating transactions with its other equity method investees were not significant in 2016 , 2015 , or 2014 . |
Entergy Texas [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.7 million in 2016, $24.5 million in 2015, and $23.1 million in 2014. Entergy’s operating transactions with its other equity method investees were not significant in 2016 , 2015 , or 2014 . |
System Energy [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.7 million in 2016, $24.5 million in 2015, and $23.1 million in 2014. Entergy’s operating transactions with its other equity method investees were not significant in 2016 , 2015 , or 2014 . |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 Results of operations for 2016 include $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. Results of operations for 2016 also include a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a tax election to treat a subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 3 to the financial statements for additional discussion of the income tax items and Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. Results of operations for 2015 includes $2,036 million ( $1,317 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ FitzPatrick, Pilgrim, and Palisades plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. As a result of the Entergy Louisiana and Entergy Gulf States Louisiana business combination, results of operations for 2015 also include two items that occurred in October 2015: 1) a deferred tax asset and resulting net increase in tax basis of approximately $334 million and 2) a regulatory liability of $107 million ( $66 million net-of-tax) as a result of customer credits to be realized by electric customers of Entergy Louisiana, consistent with the terms of the stipulated settlement in the business combination proceeding. See Note 2 to the financial statements for further discussion of the business combination and customer credits. Results of operations for 2015 also include the sale in December 2015 of the 583 MW Rhode Island State Energy Center for a realized gain of $154 million ( $100 million net-of-tax) on the sale and the $77 million ( $47 million net-of-tax) write-off and regulatory charges to recognize that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. See Note 2 to the financial statements for further discussion of the Waterford 3 write-off. The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy Arkansas [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 Results of operations for 2016 include $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. Results of operations for 2016 also include a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a tax election to treat a subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 3 to the financial statements for additional discussion of the income tax items and Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. Results of operations for 2015 includes $2,036 million ( $1,317 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ FitzPatrick, Pilgrim, and Palisades plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. As a result of the Entergy Louisiana and Entergy Gulf States Louisiana business combination, results of operations for 2015 also include two items that occurred in October 2015: 1) a deferred tax asset and resulting net increase in tax basis of approximately $334 million and 2) a regulatory liability of $107 million ( $66 million net-of-tax) as a result of customer credits to be realized by electric customers of Entergy Louisiana, consistent with the terms of the stipulated settlement in the business combination proceeding. See Note 2 to the financial statements for further discussion of the business combination and customer credits. Results of operations for 2015 also include the sale in December 2015 of the 583 MW Rhode Island State Energy Center for a realized gain of $154 million ( $100 million net-of-tax) on the sale and the $77 million ( $47 million net-of-tax) write-off and regulatory charges to recognize that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. See Note 2 to the financial statements for further discussion of the Waterford 3 write-off. The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy Louisiana [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 Results of operations for 2016 include $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. Results of operations for 2016 also include a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a tax election to treat a subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 3 to the financial statements for additional discussion of the income tax items and Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. Results of operations for 2015 includes $2,036 million ( $1,317 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ FitzPatrick, Pilgrim, and Palisades plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. As a result of the Entergy Louisiana and Entergy Gulf States Louisiana business combination, results of operations for 2015 also include two items that occurred in October 2015: 1) a deferred tax asset and resulting net increase in tax basis of approximately $334 million and 2) a regulatory liability of $107 million ( $66 million net-of-tax) as a result of customer credits to be realized by electric customers of Entergy Louisiana, consistent with the terms of the stipulated settlement in the business combination proceeding. See Note 2 to the financial statements for further discussion of the business combination and customer credits. Results of operations for 2015 also include the sale in December 2015 of the 583 MW Rhode Island State Energy Center for a realized gain of $154 million ( $100 million net-of-tax) on the sale and the $77 million ( $47 million net-of-tax) write-off and regulatory charges to recognize that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. See Note 2 to the financial statements for further discussion of the Waterford 3 write-off. The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy Mississippi [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 Results of operations for 2016 include $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. Results of operations for 2016 also include a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a tax election to treat a subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 3 to the financial statements for additional discussion of the income tax items and Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. Results of operations for 2015 includes $2,036 million ( $1,317 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ FitzPatrick, Pilgrim, and Palisades plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. As a result of the Entergy Louisiana and Entergy Gulf States Louisiana business combination, results of operations for 2015 also include two items that occurred in October 2015: 1) a deferred tax asset and resulting net increase in tax basis of approximately $334 million and 2) a regulatory liability of $107 million ( $66 million net-of-tax) as a result of customer credits to be realized by electric customers of Entergy Louisiana, consistent with the terms of the stipulated settlement in the business combination proceeding. See Note 2 to the financial statements for further discussion of the business combination and customer credits. Results of operations for 2015 also include the sale in December 2015 of the 583 MW Rhode Island State Energy Center for a realized gain of $154 million ( $100 million net-of-tax) on the sale and the $77 million ( $47 million net-of-tax) write-off and regulatory charges to recognize that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. See Note 2 to the financial statements for further discussion of the Waterford 3 write-off. The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy New Orleans [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 Results of operations for 2016 include $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. Results of operations for 2016 also include a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a tax election to treat a subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 3 to the financial statements for additional discussion of the income tax items and Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. Results of operations for 2015 includes $2,036 million ( $1,317 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ FitzPatrick, Pilgrim, and Palisades plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. As a result of the Entergy Louisiana and Entergy Gulf States Louisiana business combination, results of operations for 2015 also include two items that occurred in October 2015: 1) a deferred tax asset and resulting net increase in tax basis of approximately $334 million and 2) a regulatory liability of $107 million ( $66 million net-of-tax) as a result of customer credits to be realized by electric customers of Entergy Louisiana, consistent with the terms of the stipulated settlement in the business combination proceeding. See Note 2 to the financial statements for further discussion of the business combination and customer credits. Results of operations for 2015 also include the sale in December 2015 of the 583 MW Rhode Island State Energy Center for a realized gain of $154 million ( $100 million net-of-tax) on the sale and the $77 million ( $47 million net-of-tax) write-off and regulatory charges to recognize that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. See Note 2 to the financial statements for further discussion of the Waterford 3 write-off. The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy Texas [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 Results of operations for 2016 include $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. Results of operations for 2016 also include a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a tax election to treat a subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 3 to the financial statements for additional discussion of the income tax items and Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. Results of operations for 2015 includes $2,036 million ( $1,317 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ FitzPatrick, Pilgrim, and Palisades plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. As a result of the Entergy Louisiana and Entergy Gulf States Louisiana business combination, results of operations for 2015 also include two items that occurred in October 2015: 1) a deferred tax asset and resulting net increase in tax basis of approximately $334 million and 2) a regulatory liability of $107 million ( $66 million net-of-tax) as a result of customer credits to be realized by electric customers of Entergy Louisiana, consistent with the terms of the stipulated settlement in the business combination proceeding. See Note 2 to the financial statements for further discussion of the business combination and customer credits. Results of operations for 2015 also include the sale in December 2015 of the 583 MW Rhode Island State Energy Center for a realized gain of $154 million ( $100 million net-of-tax) on the sale and the $77 million ( $47 million net-of-tax) write-off and regulatory charges to recognize that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. See Note 2 to the financial statements for further discussion of the Waterford 3 write-off. The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
System Energy [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 Results of operations for 2016 include $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. Results of operations for 2016 also include a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a tax election to treat a subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 3 to the financial statements for additional discussion of the income tax items and Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. Results of operations for 2015 includes $2,036 million ( $1,317 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ FitzPatrick, Pilgrim, and Palisades plants and related assets to their fair values. See Note 14 to the financial statements for further discussion of the impairment and related charges. As a result of the Entergy Louisiana and Entergy Gulf States Louisiana business combination, results of operations for 2015 also include two items that occurred in October 2015: 1) a deferred tax asset and resulting net increase in tax basis of approximately $334 million and 2) a regulatory liability of $107 million ( $66 million net-of-tax) as a result of customer credits to be realized by electric customers of Entergy Louisiana, consistent with the terms of the stipulated settlement in the business combination proceeding. See Note 2 to the financial statements for further discussion of the business combination and customer credits. Results of operations for 2015 also include the sale in December 2015 of the 583 MW Rhode Island State Energy Center for a realized gain of $154 million ( $100 million net-of-tax) on the sale and the $77 million ( $47 million net-of-tax) write-off and regulatory charges to recognize that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. See Note 2 to the financial statements for further discussion of the Waterford 3 write-off. The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Schedule II - Valuation And Qua
Schedule II - Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY CORPORATION AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016, 2015, and 2014 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2016 $39,895 $7,505 $35,476 $11,924 2015 $35,663 $6,926 $2,694 $39,895 2014 $34,311 $4,573 $3,221 $35,663 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Arkansas [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY ARKANSAS, INC. AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016, 2015, and 2014 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2016 $34,226 $902 $33,917 $1,211 2015 $32,247 $2,759 $780 $34,226 2014 $30,113 $2,881 $747 $32,247 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Louisiana [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY LOUISIANA, LLC AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016, 2015, and 2014 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2016 $4,209 $2,942 $874 $6,277 2015 $1,609 $3,464 $864 $4,209 2014 $1,874 $842 $1,107 $1,609 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Mississippi [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY MISSISSIPPI, INC. SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016, 2015, and 2014 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2016 $718 $259 $428 $549 2015 $873 $247 $402 $718 2014 $906 $269 $302 $873 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy New Orleans [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY NEW ORLEANS, INC. AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016, 2015, and 2014 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2016 $268 $2,872 $81 $3,059 2015 $262 $217 $211 $268 2014 $974 $99 $811 $262 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Texas [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY TEXAS, INC. AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016, 2015, and 2014 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2016 $474 $531 $177 $828 2015 $672 $239 $437 $474 2014 $443 $483 $254 $672 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Summary Of Significant Accoun30
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2016 | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. |
Revenues And Fuel Costs | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements for a discussion of the business combination. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy is evaluating its transition approach (which will either be a full retrospective or a modified retrospective transition method) and the effects of the new guidance, most significantly on its accounting for contributions in aid of construction. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows. Entergy will continue to monitor, however, the development of industry specific application guidance that could have an effect on this assessment. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy is evaluating the ASU for other effects on the results of operations, financial position, and cash flows. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. ASU 2016-02 is effective for Entergy for the first quarter 2019, with early adoption permitted. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, and cash flows, as well as the potential to early adopt the ASU. In March 2016 the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The statement is effective beginning in 2017 and Entergy will prospectively recognize all income tax effects related to share-based payments through the income statement. Entergy expects to record approximately $12 million in income tax expense in the first quarter of 2017 related to implementing ASU 2016-09. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy is evaluating ASU 2016-16 for other effects on its results of operations, financial position, and cash flows. |
Entergy Arkansas [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. |
Revenues And Fuel Costs | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements for a discussion of the business combination. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy is evaluating its transition approach (which will either be a full retrospective or a modified retrospective transition method) and the effects of the new guidance, most significantly on its accounting for contributions in aid of construction. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows. Entergy will continue to monitor, however, the development of industry specific application guidance that could have an effect on this assessment. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy is evaluating the ASU for other effects on the results of operations, financial position, and cash flows. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. ASU 2016-02 is effective for Entergy for the first quarter 2019, with early adoption permitted. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, and cash flows, as well as the potential to early adopt the ASU. In March 2016 the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The statement is effective beginning in 2017 and Entergy will prospectively recognize all income tax effects related to share-based payments through the income statement. Entergy expects to record approximately $12 million in income tax expense in the first quarter of 2017 related to implementing ASU 2016-09. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy is evaluating ASU 2016-16 for other effects on its results of operations, financial position, and cash flows. |
Entergy Louisiana [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. |
Revenues And Fuel Costs | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements for a discussion of the business combination. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy is evaluating its transition approach (which will either be a full retrospective or a modified retrospective transition method) and the effects of the new guidance, most significantly on its accounting for contributions in aid of construction. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows. Entergy will continue to monitor, however, the development of industry specific application guidance that could have an effect on this assessment. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy is evaluating the ASU for other effects on the results of operations, financial position, and cash flows. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. ASU 2016-02 is effective for Entergy for the first quarter 2019, with early adoption permitted. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, and cash flows, as well as the potential to early adopt the ASU. In March 2016 the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The statement is effective beginning in 2017 and Entergy will prospectively recognize all income tax effects related to share-based payments through the income statement. Entergy expects to record approximately $12 million in income tax expense in the first quarter of 2017 related to implementing ASU 2016-09. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy is evaluating ASU 2016-16 for other effects on its results of operations, financial position, and cash flows. |
Entergy Mississippi [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. |
Revenues And Fuel Costs | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements for a discussion of the business combination. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy is evaluating its transition approach (which will either be a full retrospective or a modified retrospective transition method) and the effects of the new guidance, most significantly on its accounting for contributions in aid of construction. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows. Entergy will continue to monitor, however, the development of industry specific application guidance that could have an effect on this assessment. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy is evaluating the ASU for other effects on the results of operations, financial position, and cash flows. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. ASU 2016-02 is effective for Entergy for the first quarter 2019, with early adoption permitted. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, and cash flows, as well as the potential to early adopt the ASU. In March 2016 the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The statement is effective beginning in 2017 and Entergy will prospectively recognize all income tax effects related to share-based payments through the income statement. Entergy expects to record approximately $12 million in income tax expense in the first quarter of 2017 related to implementing ASU 2016-09. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy is evaluating ASU 2016-16 for other effects on its results of operations, financial position, and cash flows. |
Entergy New Orleans [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. |
Revenues And Fuel Costs | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements for a discussion of the business combination. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy is evaluating its transition approach (which will either be a full retrospective or a modified retrospective transition method) and the effects of the new guidance, most significantly on its accounting for contributions in aid of construction. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows. Entergy will continue to monitor, however, the development of industry specific application guidance that could have an effect on this assessment. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy is evaluating the ASU for other effects on the results of operations, financial position, and cash flows. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. ASU 2016-02 is effective for Entergy for the first quarter 2019, with early adoption permitted. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, and cash flows, as well as the potential to early adopt the ASU. In March 2016 the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The statement is effective beginning in 2017 and Entergy will prospectively recognize all income tax effects related to share-based payments through the income statement. Entergy expects to record approximately $12 million in income tax expense in the first quarter of 2017 related to implementing ASU 2016-09. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy is evaluating ASU 2016-16 for other effects on its results of operations, financial position, and cash flows. |
Entergy Texas [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. |
Revenues And Fuel Costs | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements for a discussion of the business combination. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy is evaluating its transition approach (which will either be a full retrospective or a modified retrospective transition method) and the effects of the new guidance, most significantly on its accounting for contributions in aid of construction. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows. Entergy will continue to monitor, however, the development of industry specific application guidance that could have an effect on this assessment. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy is evaluating the ASU for other effects on the results of operations, financial position, and cash flows. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. ASU 2016-02 is effective for Entergy for the first quarter 2019, with early adoption permitted. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, and cash flows, as well as the potential to early adopt the ASU. In March 2016 the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The statement is effective beginning in 2017 and Entergy will prospectively recognize all income tax effects related to share-based payments through the income statement. Entergy expects to record approximately $12 million in income tax expense in the first quarter of 2017 related to implementing ASU 2016-09. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy is evaluating ASU 2016-16 for other effects on its results of operations, financial position, and cash flows. |
System Energy [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, the preparation of Entergy Corporation’s consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. |
Revenues And Fuel Costs | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana. Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings. The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy’s Utility operating companies’ various jurisdictions. Changes are made to the inputs in the estimate as needed to reflect changes in billing practices. Each month the estimated unbilled revenue amounts are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. Entergy records revenue from sales under rates implemented subject to refund less estimated amounts accrued for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions In December 2013, Entergy joined MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that have been sold and leased back. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2016 , 2.9% in 2015 , and 2.8% in 2014 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2016 , 2.7% in 2015 , and 2.5% 2014 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 5.2% in 2016 , 5.4% in 2015 , and 5.5% in 2014 . Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $169 million and $164 million as of December 31, 2016 and 2015 , respectively. Construction expenditures included in accounts payable is $253 million and $234 million at December 31, 2016 and 2015 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $154.4 million and $150.1 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2016 and 2015 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. As of December 31, 2015 , construction expenditures included in accounts payable are $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. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge nuclear refueling outage costs directly to expense when incurred. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC is not a member of the Entergy Corporation federal tax filing group but, rather, is included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 The calculation of diluted earnings (loss) per share excluded 7,137,210 options outstanding at December 31, 2016 , 7,399,820 options outstanding at December 31, 2015 , and 5,743,013 options outstanding at December 31, 2014 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over 3 years. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs that would otherwise be charged to expense if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or reimbursed to customers through future rates. The primary source of Entergy’s regulatory asset for income taxes is related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets for the unrealized gains/(losses) on investment securities. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana has recorded an offsetting amount in other deferred credits for the unrealized gains/(losses). Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, in the future the Entergy Wholesale Commodities nuclear plants will charge expenditures for capital assets directly to expense when incurred. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. Entergy Louisiana, a limited liability company, had outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provided for the election of board members that would not constitute a majority of the board; and its preferred securities were therefore classified as a component of members’ equity. In September 2015, Entergy Louisiana redeemed or repurchased and canceled its preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements for a discussion of the business combination. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy is evaluating its transition approach (which will either be a full retrospective or a modified retrospective transition method) and the effects of the new guidance, most significantly on its accounting for contributions in aid of construction. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows. Entergy will continue to monitor, however, the development of industry specific application guidance that could have an effect on this assessment. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy is evaluating the ASU for other effects on the results of operations, financial position, and cash flows. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. ASU 2016-02 is effective for Entergy for the first quarter 2019, with early adoption permitted. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, and cash flows, as well as the potential to early adopt the ASU. In March 2016 the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The statement is effective beginning in 2017 and Entergy will prospectively recognize all income tax effects related to share-based payments through the income statement. Entergy expects to record approximately $12 million in income tax expense in the first quarter of 2017 related to implementing ASU 2016-09. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy is evaluating ASU 2016-16 for other effects on its results of operations, financial position, and cash flows. |
Summary Of Significant Accoun31
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 2015 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $8,672 $6,606 $2,066 $— Other 3,176 3,127 49 — Transmission 4,431 4,408 23 — Distribution 7,207 7,207 — — Other 1,536 1,422 111 3 Construction work in progress 1,457 1,327 130 — Nuclear fuel 1,345 857 489 — Property, plant, and equipment - net $27,824 $24,954 $2,868 $3 |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Schedule Of Earnings Per Share, Basic And Diluted | The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2016 2015 2014 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation ($583.6 ) ($176.6 ) $940.7 Basic earnings (loss) per average common share 178.9 ($3.26 ) 179.2 ($0.99 ) 179.5 $5.24 Average dilutive effect of: Stock options — — — — 0.3 (0.01 ) Other equity plans — — — — 0.5 (0.01 ) Diluted earnings (loss) per average common shares 178.9 ($3.26 ) 179.2 ($0.99 ) 180.3 $5.22 |
Entergy Arkansas [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy Louisiana [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy Mississippi [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy New Orleans [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy Texas [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
System Energy [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2016 and 2015 , is shown below: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,192 $3,611 $— $— $— $1,803 Other 597 1,551 529 (13 ) 463 — Transmission 1,223 1,693 658 65 723 46 Distribution 1,997 2,488 1,166 400 1,156 — Other 179 483 199 184 104 17 Construction work in progress 388 421 114 29 211 93 Nuclear fuel 286 387 — — — 184 Property, plant, and equipment - net $5,862 $10,634 $2,666 $665 $2,657 $2,143 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% 2014 2.4% 2.2% 2.6% 3.2% 2.5% 3.0% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2016 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 839 31.50 % $134 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,635 57.00 % $521 $365 Ouachita (b) Common Facilities Gas 493 66.67 % $172 $148 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $277 $189 Roy S. Nelson Unit 6 Common Facilities Coal 18.65 % $14 $6 Big Cajun 2 Unit 3 Coal 588 24.15 % $150 $113 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 248 33.33 % $90 $75 Acadia Common Facilities Gas 557 50.00 % $19 $— Union (c) Common Facilities Gas 50.00 % $50 $1 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,681 25.00 % $257 $155 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $25 $1 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $198 $113 Roy S. Nelson Unit 6 Common Facilities Coal 13.79 % $6 $2 Big Cajun 2 Unit 3 Coal 588 17.85 % $113 $74 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf Unit 1 Nuclear 1,401 90.00 % (d) $4,917 $3,063 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $71 $49 Independence Common Facilities Coal 7.18 % $16 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $112 $60 Roy S. Nelson Unit 6 Common Facilities Coal 5.05 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Rate And Regulatory Matters (Ta
Rate And Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Details Of Other Regulatory Assets | Entergy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,635.5 $2,574.9 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 677.2 589.1 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 637.0 717.8 Removal costs - recovered through depreciation rates (Note 9) (a) 353.9 273.3 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 100.0 121.1 Unamortized loss on reacquired debt - recovered over term of debt 91.4 66.7 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 43.7 51.1 MISO costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 36.2 65.2 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 22.1 32.2 Human capital management costs - recovery through retail rate mechanisms (Note 2 - Retail Rate Proceedings ) 17.3 28.3 Other 107.7 127.7 Entergy Total $4,769.9 $4,704.8 |
Schedule of Regulatory Liabilities | Entergy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $735.5 $611.7 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Other 79.8 32.5 Entergy Total $1,572.9 $1,414.9 |
Entergy Arkansas [Member] | |
Details Of Other Regulatory Assets | Entergy Arkansas 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $786.6 $766.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 322.9 288.0 Removal costs - recovered through depreciation rates (Note 9) (a) 128.5 85.7 Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 88.9 97.2 Unamortized loss on reacquired debt - recovered over term of debt 27.6 23.0 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 16.1 — MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 11.1 17.5 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 10.1 18.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery expected through retail rates (b) 9.8 10.4 Incremental ice storm costs - recovered through 2032 7.9 8.4 Human capital management costs - recovery through retail rates through June 2017 (Note 2 - Retail Rate Proceedings ) (b) 7.0 10.4 Other 11.5 8.6 Entergy Arkansas Total $1,428.0 $1,333.8 |
Schedule of Regulatory Liabilities | Entergy Arkansas 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $280.8 $236.1 Other 25.1 6.8 Entergy Arkansas Total $305.9 $242.9 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million payment be collected from customers over the 22 -month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC have requested rehearing of the FERC’s October 2011 order. In December 2013 the LPSC filed a petition for a writ of mandamus at the United States Court of Appeals for the D.C. Circuit. In its petition, the LPSC requested that the D.C. Circuit issue an order compelling the FERC to issue a final order on pending rehearing requests. In January 2014 the D.C. Circuit denied the LPSC’s petition. The APSC, the LPSC, the PUCT, and other parties intervened in the December 2011 compliance filing proceeding, and the APSC and the LPSC also filed protests. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20 -month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy has sought rehearing of the February 2014 orders with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. The appeal is pending. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC have filed protests. As discussed above, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings show the following payments/receipts among the Utility operating companies are necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Schedule of Comprehensive Bandwidth Recalculation Report Reflecting Payment (Receipt) Amounts [Table Text Block] | The filing shows the following additional payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $38 Entergy Louisiana ($38) Entergy Mississippi $16 Entergy New Orleans ($1) Entergy Texas ($15) |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Louisiana [Member] | |
Details Of Other Regulatory Assets | Entergy Louisiana 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $715.7 $718.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 199.4 180.8 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 97.8 119.2 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 43.1 50.4 Unamortized loss on reacquired debt - recovered over term of debt 27.0 19.2 MISO costs - recovery through the MISO cost recovery mechanism beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings) 21.8 41.1 Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 15.2 16.1 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 14.8 16.7 Human capital management costs - recovery through formula rate plan beginning December 2014 through November 2017 (Note 2 - Retail Rate Proceedings ) 10.0 17.6 Other 23.3 38.1 Entergy Louisiana Total $1,168.1 $1,217.9 |
Schedule of Regulatory Liabilities | Entergy Louisiana 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $235.4 $196.9 Vidalia purchased power agreement (Note 8) 202.4 222.6 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 165.5 156.0 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 83.5 105.2 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) 68.0 31.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 53.9 68.3 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 32.7 28.2 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) 10.9 — Other 28.7 9.7 Entergy Louisiana Total $881.0 $818.6 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million payment be collected from customers over the 22 -month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC have requested rehearing of the FERC’s October 2011 order. In December 2013 the LPSC filed a petition for a writ of mandamus at the United States Court of Appeals for the D.C. Circuit. In its petition, the LPSC requested that the D.C. Circuit issue an order compelling the FERC to issue a final order on pending rehearing requests. In January 2014 the D.C. Circuit denied the LPSC’s petition. The APSC, the LPSC, the PUCT, and other parties intervened in the December 2011 compliance filing proceeding, and the APSC and the LPSC also filed protests. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20 -month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy has sought rehearing of the February 2014 orders with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. The appeal is pending. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC have filed protests. As discussed above, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings show the following payments/receipts among the Utility operating companies are necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Schedule of Comprehensive Bandwidth Recalculation Report Reflecting Payment (Receipt) Amounts [Table Text Block] | The filing shows the following additional payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $38 Entergy Louisiana ($38) Entergy Mississippi $16 Entergy New Orleans ($1) Entergy Texas ($15) |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Mississippi [Member] | |
Details Of Other Regulatory Assets | Entergy Mississippi 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $217.2 $216.1 Removal costs - recovered through depreciation rates (Note 9) (a) 82.0 77.5 Unamortized loss on reacquired debt - recovered over term of debt 18.9 7.1 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 9.3 7.6 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.2 6.7 Other 7.6 13.7 Entergy Mississippi Total $342.2 $328.7 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million payment be collected from customers over the 22 -month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC have requested rehearing of the FERC’s October 2011 order. In December 2013 the LPSC filed a petition for a writ of mandamus at the United States Court of Appeals for the D.C. Circuit. In its petition, the LPSC requested that the D.C. Circuit issue an order compelling the FERC to issue a final order on pending rehearing requests. In January 2014 the D.C. Circuit denied the LPSC’s petition. The APSC, the LPSC, the PUCT, and other parties intervened in the December 2011 compliance filing proceeding, and the APSC and the LPSC also filed protests. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20 -month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy has sought rehearing of the February 2014 orders with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. The appeal is pending. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC have filed protests. As discussed above, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings show the following payments/receipts among the Utility operating companies are necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Schedule of Comprehensive Bandwidth Recalculation Report Reflecting Payment (Receipt) Amounts [Table Text Block] | The filing shows the following additional payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $38 Entergy Louisiana ($38) Entergy Mississippi $16 Entergy New Orleans ($1) Entergy Texas ($15) |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy New Orleans [Member] | |
Details Of Other Regulatory Assets | Entergy New Orleans 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $108.8 $103.7 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 93.6 104.0 Removal costs - recovered through depreciation rates (Note 9) (a) 40.1 29.4 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.3 3.1 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.2 4.0 Unamortized loss on reacquired debt - recovered over term of debt 3.4 1.6 Michoud plant maintenance – recovered over a 7-year period through September 2018 3.3 5.2 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 3.0 3.2 Other 7.4 11.1 Entergy New Orleans Total $268.1 $265.3 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million payment be collected from customers over the 22 -month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC have requested rehearing of the FERC’s October 2011 order. In December 2013 the LPSC filed a petition for a writ of mandamus at the United States Court of Appeals for the D.C. Circuit. In its petition, the LPSC requested that the D.C. Circuit issue an order compelling the FERC to issue a final order on pending rehearing requests. In January 2014 the D.C. Circuit denied the LPSC’s petition. The APSC, the LPSC, the PUCT, and other parties intervened in the December 2011 compliance filing proceeding, and the APSC and the LPSC also filed protests. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20 -month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy has sought rehearing of the February 2014 orders with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. The appeal is pending. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC have filed protests. As discussed above, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings show the following payments/receipts among the Utility operating companies are necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Schedule of Comprehensive Bandwidth Recalculation Report Reflecting Payment (Receipt) Amounts [Table Text Block] | The filing shows the following additional payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $38 Entergy Louisiana ($38) Entergy Mississippi $16 Entergy New Orleans ($1) Entergy Texas ($15) |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Texas [Member] | |
Details Of Other Regulatory Assets | Entergy Texas 2016 2015 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $442.4 $516.2 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 201.7 193.6 Transition to competition costs - recovered over a 15-year period through February 2021 47.9 57.4 Removal costs - recovered through depreciation rates (Note 9) (a) 33.5 25.8 Unamortized loss on reacquired debt - recovered over term of debt 9.0 9.4 Rate case costs - recovered through retail rates (b) 0.5 3.8 Other 5.2 6.7 Entergy Texas Total $740.2 $812.9 |
Schedule of Regulatory Liabilities | Entergy Texas 2016 2015 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $6.2 $6.4 Other 2.3 — Entergy Texas Total $8.5 $6.4 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2016 and 2015 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2016 2015 (In Millions) Entergy Arkansas (a) $163.6 $57.8 Entergy Louisiana (b) $119.9 $102.9 Entergy Mississippi $7.0 ($107.8 ) Entergy New Orleans (b) $8.9 ($24.9 ) Entergy Texas ($54.5 ) ($25.1 ) (a) Includes $66.9 million in 2016 and $ 66.7 million in 2015 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million payment be collected from customers over the 22 -month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC have requested rehearing of the FERC’s October 2011 order. In December 2013 the LPSC filed a petition for a writ of mandamus at the United States Court of Appeals for the D.C. Circuit. In its petition, the LPSC requested that the D.C. Circuit issue an order compelling the FERC to issue a final order on pending rehearing requests. In January 2014 the D.C. Circuit denied the LPSC’s petition. The APSC, the LPSC, the PUCT, and other parties intervened in the December 2011 compliance filing proceeding, and the APSC and the LPSC also filed protests. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20 -month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy has sought rehearing of the February 2014 orders with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. The appeal is pending. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC have filed protests. As discussed above, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings show the following payments/receipts among the Utility operating companies are necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Schedule of Comprehensive Bandwidth Recalculation Report Reflecting Payment (Receipt) Amounts [Table Text Block] | The filing shows the following additional payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $38 Entergy Louisiana ($38) Entergy Mississippi $16 Entergy New Orleans ($1) Entergy Texas ($15) |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
System Energy [Member] | |
Details Of Other Regulatory Assets | System Energy 2016 2015 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $193.5 $178.0 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 142.5 108.6 Removal costs - recovered through depreciation rates (Note 9) (a) 69.7 54.8 Unamortized loss on reacquired debt - recovered over term of debt 5.5 6.4 System Energy Total $411.2 $347.8 |
Schedule of Regulatory Liabilities | System Energy 2016 2015 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $219.3 $178.7 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 39.3 46.4 System Energy Total $370.9 $337.4 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Expenses From Continuing Operations | Income taxes for 2016 , 2015 , and 2014 for Entergy Corporation and Subsidiaries consist of the following: 2016 2015 2014 (In Thousands) Current: Federal $45,249 $77,166 $90,061 Foreign 68 97 90 State (14,960 ) 157,829 (12,637 ) Total 30,357 235,092 77,514 Deferred and non-current - net (840,465 ) (864,799 ) 528,326 Investment tax credit adjustments - net (7,151 ) (13,220 ) (16,243 ) Income taxes ($817,259 ) ($642,927 ) $589,597 |
Total Income Taxes For Entergy Corporation And Subsidiaries | The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 2015 2014 (In Thousands) Net income (loss) attributable to Entergy Corporation ($583,618 ) ($176,562 ) $940,721 Preferred dividend requirements of subsidiaries 19,115 19,828 19,536 Consolidated net income (loss) (564,503 ) (156,734 ) 960,257 Income taxes (817,259 ) (642,927 ) 589,597 Income (loss) before income taxes ($1,381,762 ) ($799,661 ) $1,549,854 Computed at statutory rate (35%) ($483,617 ) ($279,881 ) $542,449 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 40,581 29,944 44,708 Regulatory differences - utility plant items 33,581 32,089 39,321 Equity component of AFUDC (23,647 ) (18,191 ) (21,108 ) Amortization of investment tax credits (10,889 ) (11,136 ) (12,211 ) Flow-through / permanent differences (19,307 ) (7,872 ) (18,003 ) New York tax law change (a) — — (21,500 ) Louisiana business combination — (333,655 ) — Entergy Wholesale Commodities restructuring (b) (237,760 ) — — Act 55 financing settlement (d) (63,477 ) — — Provision for uncertain tax positions (c) (d) (67,119 ) (56,683 ) 32,573 Valuation allowance 11,411 — — Other - net 2,984 2,458 3,368 Total income taxes as reported ($817,259 ) ($642,927 ) $589,597 Effective Income Tax Rate 59.1 % 80.4 % 38.0 % (a) In March 2014, New York enacted legislation that substantially modified various aspects of New York tax law. The most significant effect of the legislation for Entergy was the adoption of full water’s-edge unitary combined reporting, meaning that all of Entergy’s domestic entities will be included in New York’s combined filing group. The effect of the tax law change resulted in a deferred state income tax reduction of approximately $21.5 million as shown in the table above. (b) See “ Other Tax Matters ” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($6,362,905 ) ($6,804,225 ) Regulatory assets (584,572 ) (646,392 ) Nuclear decommissioning trusts/receivables (1,739,977 ) (1,254,463 ) Pension, net funding (429,896 ) (365,111 ) Combined unitary state taxes (33,063 ) (45,078 ) Power purchase agreements (993 ) — Other (251,719 ) (315,844 ) Total (9,403,125 ) (9,431,113 ) Deferred tax assets: Nuclear decommissioning liabilities 1,399,468 828,983 Regulatory liabilities 255,272 284,432 Pension and other post-employment benefits 539,456 525,524 Sale and leaseback 135,866 139,720 Compensation 99,300 69,432 Accumulated deferred investment tax credit 92,375 95,248 Provision for allowances and contingencies 188,390 188,282 Power purchase agreements — 38,401 Net operating loss carryforwards 334,025 360,188 Capital losses and miscellaneous tax credits 18,470 11,075 Valuation allowance (104,277 ) (91,532 ) Other 59,079 68,204 Total 3,017,424 2,517,957 Non-current accrued taxes (including unrecognized tax benefits) (991,704 ) (1,338,806 ) Accumulated deferred income taxes and taxes accrued ($7,377,405 ) ($8,251,962 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $6.7 billion 2023-2036 State net operating losses $7.8 billion 2017-2036 Miscellaneous federal and state credits $89.9 million 2017-2036 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 (In Thousands) Gross balance at January 1 $2,611,585 $4,736,785 $4,593,224 Additions based on tax positions related to the current year 1,532,782 1,850,705 348,543 Additions for tax positions of prior years 368,404 59,815 11,637 Reductions for tax positions of prior years (a) (265,653 ) (3,966,535 ) (213,401 ) Settlements (337,263 ) (68,227 ) — Lapse of statute of limitations — (958 ) (3,218 ) Gross balance at December 31 3,909,855 2,611,585 4,736,785 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (2,922,085 ) (1,264,483 ) (4,295,643 ) Cash paid to taxing authorities (10,000 ) — — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $977,770 $1,347,102 $441,142 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns |
Entergy Arkansas [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 |
Entergy Louisiana [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 |
Entergy Mississippi [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 |
Entergy New Orleans [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 |
Entergy Texas [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 |
System Energy [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2016 , 2015 , and 2014 for Entergy’s Registrant Subsidiaries consist of the following: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($34,258 ) ($44,909 ) $8,103 ($1,428 ) $48,610 $19,908 State (678 ) (1,191 ) 7,474 510 4,877 15,379 Total (34,936 ) (46,100 ) 15,577 (918 ) 53,487 35,287 Deferred and non-current - net 119,841 236,794 42,305 14,592 (2,418 ) 53,501 Investment tax credit adjustments - net (1,276 ) (5,642 ) (2,172 ) (224 ) (1,425 ) (5,478 ) Income taxes $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2016 , 2015 , and 2014 are: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (a) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (a) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $121,392 $446,022 $74,821 $31,030 $74,804 $96,334 Income taxes 83,629 185,052 55,710 13,450 49,644 83,310 Pretax income $205,021 $631,074 $130,531 $44,480 $124,448 $179,644 Computed at statutory rate (35%) $71,757 $220,876 $45,686 $15,568 $43,557 $62,875 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 9,591 11,666 5,180 1,562 3,221 6,877 Regulatory differences - utility plant items 8,653 7,487 4,448 777 4,165 13,791 Equity component of AFUDC (2,533 ) (14,612 ) (833 ) (320 ) (1,035 ) (1,774 ) Amortization of investment tax credits (1,251 ) (5,594 ) (260 ) (218 ) (1,412 ) (3,476 ) Flow-through / permanent differences (5,082 ) (225 ) 555 (4,458 ) 393 (327 ) Non-taxable dividend income — (41,255 ) — — — — Provision for uncertain tax positions 1,881 5,336 718 405 522 5,235 Other - net 613 1,373 216 134 233 109 Total income taxes as reported $83,629 $185,052 $55,710 $13,450 $49,644 $83,310 Effective Income Tax Rate 40.8 % 29.3 % 42.7 % 30.2 % 39.9 % 46.4 % |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts/receivables (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,710,444 ) ($2,041,968 ) ($781,427 ) ($167,294 ) ($778,270 ) ($611,745 ) Regulatory assets (108,422 ) (254,316 ) (24,918 ) (39,451 ) (172,117 ) (46,990 ) Nuclear decommissioning trusts (121,326 ) (99,980 ) — — — (68,370 ) Pension, net funding (107,073 ) (109,709 ) (30,901 ) (14,459 ) (28,001 ) (25,791 ) Deferred fuel (7,647 ) (2,513 ) (684 ) (175 ) 2,050 (18 ) Power purchase agreements — — — — — — Other (38,683 ) (86,275 ) (5,625 ) (12,253 ) (10,109 ) (22,478 ) Total (2,093,595 ) (2,594,761 ) (843,555 ) (233,632 ) (986,447 ) (775,392 ) Deferred tax assets: Regulatory liabilities 18,369 215,154 7,787 20,888 7,307 14,927 Nuclear decommissioning liabilities 109,962 49,333 — — — 39,420 Pension and other post-employment benefits (20,420 ) 149,680 (6,628 ) (8,939 ) (16,703 ) (1,037 ) Sale and leaseback — 37,236 — — — 102,484 Accumulated deferred investment tax credit 14,320 56,635 1,777 290 4,842 17,385 Provision for allowances and contingencies 1,024 123,007 18,735 33,843 7,266 134 Power purchase agreements (1,279 ) 13,840 1,901 13 575 — Unbilled/deferred revenues 9,815 (32,365 ) 7,154 2,126 10,851 — Compensation 1,842 4,182 601 880 4,496 — Net operating loss carryforwards — 90,241 — — — — Other 128 21,982 1,995 316 1,672 — Total 133,761 728,925 33,322 49,417 20,306 173,313 Non-current accrued taxes (including unrecognized tax benefits) (22,978 ) (641,120 ) (402 ) (29,846 ) (40,693 ) (416,996 ) Accumulated deferred income taxes and taxes accrued ($1,982,812 ) ($2,506,956 ) ($810,635 ) ($214,061 ) ($1,006,834 ) ($1,019,075 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2016 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $184 million $4.4 billion — $34 million — $201 million Year(s) of expiration 2028-2036 2036 N/A 2028-2036 N/A 2028-2036 State net operating losses $80 million $4.8 billion — $285 million — $175 million Year(s) of expiration 2021 2029-2036 N/A 2032-2035 N/A 2035 Misc. federal credits $2 million — $3 million — — $2 million Year(s) of expiration 2029-2036 N/A 2029-2036 N/A N/A 2029-2036 State credits — — $4.5 million — $3.4 million $8.4 million Year(s) of expiration N/A N/A 2018-2020 N/A 2026 2017-2020 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2016 , 2015 , and 2014 is as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2014 $347,713 $1,076,680 $16,186 $51,679 $13,017 $265,185 Additions based on tax positions related to the current year 14,511 151,249 3,928 2,235 4,225 2,744 Additions for tax positions of prior years 1,767 6,924 319 37 303 566 Reductions for tax positions of prior years (1,079 ) (28,924 ) (289 ) (188 ) (267 ) (10,253 ) Settlements — — — — (14 ) — Gross balance at December 31, 2014 362,912 1,205,929 20,144 53,763 17,264 258,242 Offsets to gross unrecognized tax benefits: Loss carryovers (361,043 ) (739,988 ) (6,992 ) (20,735 ) (241 ) (163,124 ) Unrecognized tax benefits net of unused tax attributes and payments $1,869 $465,941 $13,152 $33,028 $17,023 $95,118 (a) The primary addition for Entergy Louisiana is related to the mark-to market treatment discussed in “ Other Tax Matters ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $3.6 $4.5 $2.6 Entergy Louisiana $473.3 $692.7 $267.3 Entergy Mississippi $— $8.1 $3.9 Entergy New Orleans $33.6 $50.7 $50.7 Entergy Texas $7.0 $5.2 $10.5 System Energy $— $0.7 $3.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2016 2015 2014 (In Millions) Entergy Arkansas $1.4 $1.3 $17.0 Entergy Louisiana $8.4 $9.3 $22.2 Entergy Mississippi $0.8 $0.4 $2.8 Entergy New Orleans $1.5 $1.8 $1.3 Entergy Texas $1.2 $1.2 $1.0 System Energy $3.7 $0.7 $23.8 |
Revolving Credit Facilities, 34
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $700 $6 $2,794 |
Parent Company [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 | n 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (b) (a) |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 |
Entergy Arkansas [Member] | |
Credit Facilities | Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 | n 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (b) (a) |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 |
Entergy Louisiana [Member] | |
Credit Facilities | Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 | n 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (b) (a) |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 |
Entergy Mississippi [Member] | |
Credit Facilities | Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 | n 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — |
Entergy New Orleans [Member] | |
Credit Facilities | Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 | n 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — |
Entergy Texas [Member] | |
Credit Facilities | Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2016 Letters of Credit Outstanding as of December 31, 2016 Entergy Arkansas April 2017 $20 million (b) 2.02% — — Entergy Arkansas August 2021 $150 million (c) 2.02% — — Entergy Louisiana August 2021 $350 million (d) 2.02% — $6.4 million Entergy Mississippi May 2017 $10 million (e) 2.27% — — Entergy Mississippi May 2017 $20 million (e) 2.27% — — Entergy Mississippi May 2017 $35 million (e) 2.27% — — Entergy Mississippi May 2017 $37.5 million (e) 2.27% — — Entergy New Orleans November 2018 $25 million (f) 2.52% — $0.8 million Entergy Texas August 2021 $150 million (g) 2.27% — $4.7 million (a) The interest rate is the rate as of December 31, 2016 that would most likely be applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility 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 | n 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 December 31, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2016 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $5.7 million Entergy Mississippi $40 million 0.70% $7.1 million Entergy New Orleans $15 million 1.00% $6.2 million Entergy Texas $50 million 0.70% $14.7 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 December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — |
System Energy [Member] | |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $51.2 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $100 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | December 31, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 n/a $— Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.15% $3.8 (b) System Energy VIE May 2019 $120 2.20% $66.9 (b) (a) |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 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 Arkansas VIE 3.17% Series M due December 2023 $40 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 Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 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 |
Long - Term Debt (Tables)
Long - Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Schedule Of Long-Term Debt | Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2016 and 2015 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2016 Interest Rate Ranges at December 31, Outstanding at December 31, 2016 2015 2016 2015 (In Thousands) Mortgage Bonds 2016-2021 4.92% 2.55%-7.125% 3.25%-7.125% $2,350,000 $2,350,000 2022-2026 3.85% 2.40%-5.59% 3.05%-5.66% 3,965,000 3,308,276 2028-2041 3.06% 2.85%-3.25% 5.65%-6.38% 1,125,000 1,270,827 2044-2066 5.00% 4.70%-5.625% 4.70%-6.00% 2,960,000 1,860,000 Governmental Bonds (a) 2017-2021 2.22% 1.55%-2.375% 1.55%-2.375% 99,700 99,700 2022-2030 3.98% 3.375%-5.875% 4.90%-5.875% 332,680 384,680 Securitization Bonds 2018-2024 3.90% 2.04%-5.93% 2.04%-5.93% 669,310 784,340 Variable Interest Entities Notes Payable (Note 4) 2016-2023 3.47% 2.62%-4.02% 1.38%-4.02% 555,000 570,600 Entergy Corporation Notes due January 2017 n/a — 4.70% — 500,000 due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% — 750,000 — Note Payable to NYPA — — (b) — 34,259 5 Year Credit Facility (Note 4) n/a 2.23% 1.98% 700,000 835,000 Long-term DOE Obligation (c) — — — 181,853 181,378 Waterford 3 Lease Obligation (d) n/a 8.09% 7.45% 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (d) n/a (e) — 42,703 — Grand Gulf Lease Obligation (d) n/a 5.13% 5.13% 34,359 34,361 Vermont Yankee Credit Facility (Note 4) n/a 2.17% 2.08% 44,500 12,000 Unamortized Premium and Discount - Net (19,397 ) (12,067 ) Unamortized Debt Issuance Costs (128,849 ) (110,349 ) Other 13,204 13,960 Total Long-Term Debt 14,832,555 13,325,930 Less Amount Due Within One Year 364,900 214,374 Long-Term Debt Excluding Amount Due Within One Year $14,467,655 $13,111,556 Fair Value of Long-Term Debt (f) $14,815,535 $13,578,511 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. (b) These notes do not have a stated interest rate, but have an implicit interest rate of 4.8% . (c) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (d) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (e) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . (f) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Amount (In Thousands) 2017 $307,403 2018 $828,084 2019 $724,899 2020 $795,000 2021 $1,674,548 |
Entergy Arkansas [Member] | |
Schedule Of Long-Term Debt | (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. 2016 2015 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 5.66% Series due February 2025 — 175,000 3.5% Series due April 2026 380,000 — 5.9% Series due June 2033 — 100,000 6.38% Series due November 2034 — 60,000 5.75% Series due November 2040 — 225,000 4.95% Series due December 2044 250,000 250,000 4.9% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 — Total mortgage bonds 2,340,000 2,110,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) 54,700 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 99,700 99,700 Variable Interest Entity Notes Payable (Note 4): 3.23% Series J due July 2016 — 55,000 2.62% Series K due December 2017 60,000 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 — Total variable interest entity notes payable 190,000 205,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 49,548 62,966 Total securitization bonds 49,548 62,966 Other: Long-term DOE Obligation (b) 181,853 181,378 Unamortized Premium and Discount – Net 984 (2,775 ) Unamortized Debt Issuance Costs (34,357 ) (28,503 ) Other 2,057 2,073 Total Long-Term Debt 2,829,785 2,629,839 Less Amount Due Within One Year 114,700 55,000 Long-Term Debt Excluding Amount Due Within One Year $2,715,085 $2,574,839 Fair Value of Long-Term Debt (c) $2,623,910 $2,498,108 |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— |
Entergy Louisiana [Member] | |
Schedule Of Long-Term Debt | 2016 2015 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 — 3.25% Series due April 2028 425,000 — 3.05% Series due June 2031 325,000 — 6.2% Series due July 2033 — 240,000 6.18% Series due March 2035 — 85,000 6.0% Series due March 2040 — 118,000 5.875% Series due June 2041 — 150,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 250,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 — Total mortgage bonds 5,240,000 4,213,000 Governmental Bonds (a): 5.0% Series due 2028, Louisiana Public Facilities Authority (d) — 83,680 5.0% Series due 2030, Louisiana Public Facilities Authority (d) — 115,000 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 — 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 — Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable (Note 4): 3.30% Series F due March 2016 — 20,000 3.25% Series G due July 2017 25,000 25,000 3.25% Series Q due July 2017 75,000 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 — Credit Facility due June 2016, weighted avg rate 1.38% — 600 Total variable interest entity notes payable 230,000 230,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 100,972 122,568 Total securitization bonds 100,972 122,568 Other: Waterford 3 Lease Obligation (Note 10) (e) 57,492 108,965 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) 42,703 — Unamortized Premium and Discount - Net (14,917 ) (4,537 ) Unamortized Debt Issuance Costs (48,972 ) (40,156 ) Other 6,833 7,042 Total Long-Term Debt 5,812,791 4,836,162 Less Amount Due Within One Year 200,198 29,372 Long-Term Debt Excluding Amount Due Within One Year $5,612,593 $4,806,790 Fair Value of Long-Term Debt (c) $5,929,488 $5,018,786 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— |
Entergy Mississippi [Member] | |
Schedule Of Long-Term Debt | 2016 2015 (In Thousands) Entergy Mississippi Mortgage Bonds: 3.25% Series due June 2016 $— $125,000 6.64% Series due July 2019 150,000 150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 2.85% Series due June 2028 375,000 — 6.0% Series due November 2032 — 75,000 6.25% Series due April 2034 — 100,000 6.20% Series due April 2040 — 80,000 6.0% Series due May 2051 — 150,000 4.90% Series due October 2066 260,000 — Total mortgage bonds 1,135,000 1,030,000 Governmental Bonds (a): 4.90% Series due 2022, Independence County (d) — 30,000 Total governmental bonds — 30,000 Other: Unamortized Premium and Discount – Net (766 ) (1,038 ) Unamortized Debt Issuance Costs (13,318 ) (13,877 ) Total Long-Term Debt 1,120,916 1,045,085 Less Amount Due Within One Year — 125,000 Long-Term Debt Excluding Amount Due Within One Year $1,120,916 $920,085 Fair Value of Long-Term Debt (c) $1,086,203 $1,087,326 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— |
Entergy New Orleans [Member] | |
Schedule Of Long-Term Debt | 2016 2015 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 5.6% Series due September 2024 — 33,276 4.0% Series due June 2026 85,000 — 5.65% Series due September 2029 — 37,827 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 — Total mortgage bonds 350,000 226,103 Securitization Bonds: 2.67% Series Senior Secured due June 2027 87,307 98,730 Total securitization bonds 87,307 98,730 Other: Payable to Entergy Louisiana due November 2035 20,527 25,500 Unamortized Premium and Discount – Net (245 ) (283 ) Unamortized Debt Issuance Costs (8,595 ) (7,170 ) Total Long-Term Debt 448,994 342,880 Less Amount Due Within One Year 2,104 4,973 Long-Term Debt Excluding Amount Due Within One Year $446,890 $337,907 Fair Value of Long-Term Debt (c) $455,459 $351,040 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— |
Entergy Texas [Member] | |
Schedule Of Long-Term Debt | 2016 2015 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 — 4.1% Series due September 2021 75,000 75,000 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,085,000 960,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 23,584 49,614 3.65% Series Senior Secured, Series A due August 2019 74,899 117,462 5.93% Series Senior Secured, Series A due June 2022 114,400 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 431,483 500,076 Other: Unamortized Premium and Discount - Net (1,579 ) (1,797 ) Unamortized Debt Issuance Costs (10,809 ) (11,155 ) Other 4,312 4,843 Total Long-Term Debt 1,508,407 1,451,967 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,508,407 $1,451,967 Fair Value of Long-Term Debt (c) $1,600,156 $1,590,616 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— |
System Energy [Member] | |
Schedule Of Long-Term Debt | 2016 2015 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 156,000 Total governmental bonds 134,000 156,000 Variable Interest Entity Notes Payable (Note 4): 4.02% Series H due February 2017 50,000 50,000 3.78% Series I due October 2018 85,000 85,000 Total variable interest entity notes payable 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,359 34,361 Unamortized Premium and Discount – Net (503 ) (634 ) Unamortized Debt Issuance Costs (1,727 ) (2,062 ) Other 3 2 Total Long-Term Debt 551,132 572,667 Less Amount Due Within One Year 50,003 2 Long-Term Debt Excluding Amount Due Within One Year $501,129 $572,665 Fair Value of Long-Term Debt (c) $529,520 $552,762 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . The interest rate as of December 31, 2015 was an overall implicit rate of 7.45% which included the equity portion of the lease obligation. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note does not have a stated interest rate, but has an implicit interest rate of 7.458% . |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2016 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017 $114,700 $142,703 $— $2,104 $— $50,000 2018 $— $675,000 $— $2,077 $23,584 $85,000 2019 $— $— $150,000 $1,979 $574,899 $— 2020 $— $320,000 $— $26,838 $— $— 2021 $534,548 $240,000 $— $1,618 $200,000 $— |
Hurricane Rita [Member] | Entergy Texas [Member] | |
Schedule Of Senior Secured Transition Bonds | In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 114,400 Total senior secured transition bonds $329,500 |
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |
Schedule Of Senior Secured Transition Bonds | In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 |
Preferred Equity (Tables)
Preferred Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | All series of the Utility preferred stock are redeemable at the option of the related company. Shares/Units Authorized Shares/Units Outstanding 2016 2015 2016 2015 2016 2015 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-6.45% Series 313,500 3,413,500 313,500 3,413,500 $31,350 $116,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Mississippi, 4.36%-6.25% Series 203,807 1,403,807 203,807 1,403,807 20,381 50,381 Entergy New Orleans, 4.36%-5.56% Series 197,798 197,798 197,798 197,798 19,780 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 825,105 5,125,105 825,105 5,125,105 178,936 293,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (b) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 1,075,105 5,375,105 1,075,105 5,375,105 $203,185 $318,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. |
Entergy Arkansas [Member] | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 6.08% Series — 100,000 — 10,000 $— Cumulative, $25 par value: 6.45% Series — 3,000,000 — 75,000 $— Total without sinking fund 313,500 3,413,500 $31,350 $116,350 |
Entergy Mississippi [Member] | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Cumulative, $25 par value 6.25% Series — 1,200,000 — 30,000 $— Total without sinking fund 203,807 1,403,807 $20,381 $50,381 |
Entergy New Orleans [Member] | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | Shares Authorized and Outstanding Call Price per Share as of December 31, 2016 2015 2016 2015 2016 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 60,000 60,000 $6,000 $6,000 $104.58 4.75% Series 77,798 77,798 7,780 7,780 $105.00 5.56% Series 60,000 60,000 6,000 6,000 $102.59 Total without sinking fund 197,798 197,798 $19,780 $19,780 |
Common Equity (Tables)
Common Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Schedule of Common Stock and Treasury Stock Shares Activity Roll Forward | Common stock and treasury stock shares activity for Entergy for 2016 , 2015 , and 2014 is as follows: 2016 2015 2014 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 76,363,763 254,752,788 75,512,079 254,752,788 76,381,936 Repurchases — — — 1,468,984 — 2,154,490 Issuances: Employee Stock-Based Compensation Plans — (729,073 ) — (610,409 ) — (3,019,475 ) Directors’ Plan — (11,327 ) — (6,891 ) — (4,872 ) Ending Balance, December 31 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 |
Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from accumulated other comprehensive income (loss) (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2015 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications (151,740 ) 71,054 (34,186 ) (641 ) (115,513 ) Amounts reclassified from 159,592 32,131 (24,952 ) — 166,771 Net other comprehensive income (loss) for the period 7,852 103,185 (59,138 ) (641 ) 51,258 Ending balance, December 31, 2015 $105,970 ($466,604 ) $367,557 $2,028 $8,951 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $293,268 ($243,555 ) Competitive business operating revenues Interest rate swaps (1,395 ) (1,971 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 291,873 (245,526 ) (102,156 ) 85,934 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $189,717 ($159,592 ) Pension and other postretirement liabilities Amortization of prior-service costs $29,414 $23,920 (a) Acceleration of prior-service cost due to curtailment (1,045 ) (374 ) (a) Amortization of loss (60,693 ) (70,296 ) (a) Settlement loss (2,007 ) (1,401 ) (a) Total amortization (34,331 ) (48,151 ) 10,176 16,020 Income taxes Total amortization (net of tax) ($24,155 ) ($32,131 ) Net unrealized investment gain (loss) Realized gain (loss) $12,329 $48,926 Interest and investment income (6,041 ) (23,974 ) Income taxes Total realized investment gain (loss) (net of tax) $6,288 $24,952 Total reclassifications for the period (net of tax) $171,850 ($166,771 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Louisiana [Member] | |
Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2015: Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Other comprehensive income (loss) before reclassifications 21,180 Amounts reclassified from accumulated other comprehensive income (loss) 1,631 Net other comprehensive income (loss) for the period 22,811 Ending balance, December 31, 2015 ($56,412 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2016 and 2015 are as follows: Amounts reclassified from AOCI Income Statement Location 2016 2015 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,786 $7,464 (a) Amortization of loss (6,281 ) (10,140 ) (a) Settlement loss — (14 ) (a) Total amortization 1,505 (2,690 ) (549 ) 1,059 Income taxes Total amortization (net of tax) 956 (1,631 ) Total reclassifications for the period (net of tax) $956 ($1,631 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— |
Entergy Arkansas [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— |
Entergy Louisiana [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— |
Entergy Mississippi [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— |
Entergy New Orleans [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— |
Entergy Texas [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— |
System Energy [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2016, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $53.6 Entergy Louisiana $56.1 Entergy Mississippi $0.10 Entergy New Orleans $0.10 Entergy Texas N/A System Energy $25.3 Entergy Wholesale Commodities $— |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Regulatory Assets [Line Items] | |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— |
Entergy Arkansas [Member] | |
Regulatory Assets [Line Items] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— |
Entergy Louisiana [Member] | |
Regulatory Assets [Line Items] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— |
Entergy Mississippi [Member] | |
Regulatory Assets [Line Items] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. |
Entergy New Orleans [Member] | |
Regulatory Assets [Line Items] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. |
Entergy Texas [Member] | |
Regulatory Assets [Line Items] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. |
System Energy [Member] | |
Regulatory Assets [Line Items] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2016 2015 (In Millions) Entergy Arkansas $128.5 $85.7 Entergy Louisiana ($53.9) ($68.3) Entergy Mississippi $82.0 $77.5 Entergy New Orleans $40.1 $29.4 Entergy Texas $33.5 $25.8 System Energy $69.7 $54.8 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2016 and 2015 by Entergy were as follows: Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (a) (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana $1,027.9 $— $54.8 $— $— $1,082.7 Entergy Mississippi $8.3 $— $0.4 $— $— $8.7 Entergy New Orleans $2.7 $— $0.2 $— $— $2.9 Entergy Texas $6.1 $— $0.4 $— $— $6.5 System Energy $803.4 $— $50.8 $— $— $854.2 Entergy Wholesale Commodities: Big Rock Point $28.0 $— $2.2 $10.1 ($2.4 ) $37.9 FitzPatrick $— $696.2 (b) $18.1 $— $— $714.3 Indian Point 1 $197.9 $— $17.1 ($0.3 ) ($7.1 ) $207.6 Indian Point 2 $390.1 $— $33.0 $230.0 $— $653.1 Indian Point 3 $— $466.3 (b) $12.1 $162.7 $— $641.1 Palisades $342.0 $— $29.5 $128.8 $— $500.3 Pilgrim $551.2 $— $48.4 $3.2 ($0.5 ) $602.3 Vermont Yankee $560.0 $— $39.3 $— ($128.8 ) $470.5 Other (c) $0.3 $— $— $— $— $0.3 Liabilities as of December 31, 2014 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2015 (In Millions) Utility: Entergy Arkansas $818.4 $3.5 (c) $50.4 $— $— $872.3 Entergy Louisiana $950.3 $1.9 (c) $51.0 $24.7 $— $1,027.9 Entergy Mississippi $6.8 $1.1 (c) $0.4 $— $— $8.3 Entergy New Orleans $2.5 $— $0.2 $— $— $2.7 Entergy Texas $4.6 $1.4 (c) $0.3 ($0.2 ) $— $6.1 System Energy $757.9 $— $48.0 ($2.5 ) $— $803.4 Entergy Wholesale Commodities: Big Rock Point $27.8 $— $2.2 $— ($2.0 ) $28.0 Indian Point 1 $188.9 $— $16.3 $— ($7.3 ) $197.9 Indian Point 2 $359.7 $— $30.4 $— $— $390.1 Palisades $352.0 $— $25.2 ($35.2 ) $— $342.0 Pilgrim $383.1 $— $33.3 $134.8 $— $551.2 Vermont Yankee $606.3 $— $46.1 $— ($92.4 ) $560.0 Other (c) $— $— $0.3 $— $— $0.3 (a) Entergy Wholesale Commodities includes $714.3 million of asset retirement obligation for FitzPatrick which is classified as held for sale within other non-current liabilities on the consolidated balance sheet. See Note 14 to the financial statements for discussion of the agreement to sell the FitzPatrick plant to Exelon. (b) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2016 and 2015 are as follows: 2016 2015 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $834.7 $316.3 $771.3 $280.3 River Bend $712.8 ($28.4) $651.7 ($26.8 ) Waterford 3 $427.9 $172.8 $390.6 $158.5 Grand Gulf $780.5 $142.5 $701.5 $108.6 Entergy Wholesale Commodities $2,968.0 $— $2,834.9 $— |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Components Of Minimum Lease Payments | As of December 31, 2016 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2017 $76,663 $4,694 2018 69,620 3,255 2019 67,218 3,124 2020 51,127 3,065 2021 41,531 2,887 Years thereafter 90,787 21,891 Minimum lease payments 396,946 38,916 Less: Amount representing interest — 11,934 Present value of net minimum lease payments $396,946 $26,982 |
Purchase Power Agreement Minimum Lease Payments | The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. |
Entergy Arkansas [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 |
Entergy Louisiana [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 |
Entergy Mississippi [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 |
Entergy New Orleans [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 |
Entergy Texas [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2016 the Registrant Subsidiaries had a capital lease and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 lease obligations, all of which are discussed elsewhere): Capital Leases Year Entergy Mississippi (In Thousands) 2017 $1,570 2018 131 2019 — 2020 — 2021 — Years thereafter — Minimum lease payments 1,701 Less: Amount representing interest 111 Present value of net minimum lease payments $1,590 Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $17,648 $23,947 $8,014 $2,324 $5,361 2018 14,667 22,053 7,171 2,065 4,882 2019 15,419 22,461 6,830 1,882 3,841 2020 8,871 16,700 5,878 1,627 2,335 2021 6,697 12,097 4,200 1,218 1,546 Years thereafter 25,818 22,966 5,865 1,864 2,009 Minimum lease payments $89,120 $120,224 $37,958 $10,980 $19,974 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 |
Purchase Power Agreement Minimum Lease Payments | The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2017 $29,772 $29,772 2018 30,458 30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 Years thereafter 10,180 10,180 Minimum lease payments $166,054 $166,054 (a) Amounts reflect 100% of minimum payments. Under a separate contract, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. |
System Energy [Member] | |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 2014 $12.0 $20.7 $4.3 $1.2 $3.8 $2.0 |
Future Minimum Lease Payments Sale Leaseback Transactions | As of December 31, 2016 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2017 $17,188 2018 17,188 2019 17,188 2020 17,188 2021 17,188 Years thereafter 257,812 Total 343,752 Less: Amount representing interest 309,393 Present value of net minimum lease payments $34,359 |
Retirement, Other Postretirem41
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy Corporation and its subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2016 2015 2014 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $143,244 $175,046 $140,436 Interest cost on projected benefit obligation 261,613 302,777 290,076 Expected return on assets (389,465 ) (394,618 ) (361,462 ) Amortization of prior service cost 1,079 1,561 1,600 Recognized net loss 195,298 235,922 145,095 Curtailment loss 3,084 374 — Special termination benefit — 76 732 Net periodic pension costs $214,853 $321,138 $216,477 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $203,229 $50,762 $1,389,912 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (1,079 ) (1,561 ) (1,600 ) Acceleration of prior service cost to curtailment (1,045 ) (374 ) — Amortization of net loss (195,298 ) (235,922 ) (145,095 ) Total $5,807 ($187,095 ) $1,243,217 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $220,660 $134,043 $1,459,694 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $261 $1,079 $1,561 Net loss $227,720 $195,321 $237,013 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $6,848,238 $7,230,542 Service cost 143,244 175,046 Interest cost 261,613 302,777 Curtailment 2,039 — Special termination benefit — 76 Actuarial (gain)/loss 209,360 (460,986 ) Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Balance at December 31 $7,142,567 $6,848,238 Change in Plan Assets Fair value of assets at January 1 $4,707,433 $4,827,966 Actual return on plan assets 395,596 (117,130 ) Employer contributions 390,100 395,814 Employee contributions 23 524 Benefits paid (321,950 ) (399,741 ) Fair value of assets at December 31 $5,171,202 $4,707,433 Funded status ($1,971,365 ) ($2,140,805 ) Amount recognized in the balance sheet Non-current liabilities ($1,971,365 ) ($2,140,805 ) Amount recognized as a regulatory asset Net loss $2,326,349 $2,300,222 Amount recognized as AOCI (before tax) Prior service cost $659 $2,784 Net loss 619,276 637,472 $619,935 $640,256 |
Reclassification Out of Accumulated Other Comprehensive Income, Amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2016: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($1,079 ) $30,949 ($456 ) $29,414 Acceleration of prior service cost due to curtailment (1,045 ) — — (1,045 ) Amortization of loss (49,930 ) (8,248 ) (2,515 ) (60,693 ) Settlement loss — — (2,007 ) (2,007 ) ($52,054 ) $22,701 ($4,978 ) ($34,331 ) Entergy Louisiana Amortization of prior service cost $— $7,787 ($1 ) $7,786 Amortization of loss (3,345 ) (2,926 ) (10 ) (6,281 ) ($3,345 ) $4,861 ($11 ) $1,505 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2015: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($1,557 ) $25,905 ($428 ) $23,920 Acceleration of prior service cost due to curtailment (374 ) — — (374 ) Amortization of loss (50,508 ) (17,613 ) (2,175 ) (70,296 ) Settlement loss — — (1,401 ) (1,401 ) ($52,439 ) $8,292 ($4,004 ) ($48,151 ) Entergy Louisiana Amortization of prior service cost $— $7,467 ($3 ) $7,464 Amortization of loss (3,003 ) (7,118 ) (19 ) (10,140 ) Settlement loss — — (14 ) (14 ) ($3,003 ) $349 ($36 ) ($2,690 ) |
Target Asset Allocation | Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2016 and 2015 and the target asset allocation and ranges are as follows: Pension Asset Allocation Target Range Actual 2016 Actual 2015 Domestic Equity Securities 45% 37% to 53% 46% 45% International Equity Securities 20% 16% to 24% 20% 19% Fixed Income Securities 35% 32% to 38% 33% 35% Other 0% 0% to 10% 1% 1% Postretirement Asset Allocation Non-Taxable and Taxable Target Range Actual 2016 Actual 2015 Domestic Equity Securities 39% 34% to 44% 40% 40% International Equity Securities 26% 21% to 31% 27% 24% Fixed Income Securities 35% 30% to 40% 33% 36% Other 0% 0% to 5% 0% 0% |
Investments Held For Qualified Pension And Other Postretirement Plans Measured At Fair Value | Qualified Defined Benefit Pension Plan Trusts 2016 Level 1 Level 2 Level 3 Total (In Thousands) Short-term investments $— $3,610 (a) $— $3,610 Equity securities: Corporate stocks: Preferred 6,423 (b) — — 6,423 Common 745,715 (b) 39 (b) — 745,754 Common collective trusts (c) — — — 2,072,743 103-12 investment entities (h) 335,818 Registered investment companies 258,879 (d) — — 258,879 Fixed income securities: U.S. Government securities 136 (b) 370,545 (a) — 370,681 Corporate debt instruments — 630,726 (a) — 630,726 Registered investment companies (e) 35,216 (d) 2,695 (d) — 640,836 Other 34 (f) 105,613 (f) — 105,647 Other: Insurance company general account (unallocated contracts) — 37,111 (g) — 37,111 Total investments $1,046,403 $1,150,339 $— $5,208,228 Cash 929 Other pending transactions 8,869 Less: Other postretirement assets included in total investments (46,824 ) Total fair value of qualified pension assets $5,171,202 2015 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Corporate stocks: Preferred $6,409 (b) $— $— $6,409 Common 686,335 (b) 95 (b) — 686,430 Common collective trusts (c) 1,873,218 103-12 investment entities (h) 283,288 Registered investment companies 202,282 (d) — — 202,282 Fixed income securities: U.S. Government securities 1,879 (b) 343,805 (a) — 345,684 Corporate debt instruments — 595,862 (a) — 595,862 Registered investment companies (e) 53,438 (d) 2,685 (d) — 600,646 Other — 114,215 (f) — 114,215 Other: Insurance company general account (unallocated contracts) — 35,998 (g) — 35,998 Total investments $950,343 $1,092,660 $— $4,744,032 Cash 373 Other pending transactions 1,124 Less: Other postretirement assets included in total investments (38,096 ) Total fair value of qualified pension assets $4,707,433 Other Postretirement Trusts 2016 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Common collective trust (c) $368,704 Fixed income securities: U.S. Government securities 30,632 (b) 43,097 (a) — 73,729 Corporate debt instruments — 58,787 (a) — 58,787 Registered investment companies 3,123 (d) — — 3,123 Other — 45,389 (f) — 45,389 Total investments $33,755 $147,273 $— $549,732 Other pending transactions 104 Plus: Other postretirement assets included in the investments of the qualified pension trust 46,824 Total fair value of other postretirement assets $596,660 2015 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Common collective trust (c) $348,604 Fixed income securities: U.S. Government securities 33,789 (b) 42,222 (a) — 76,011 Corporate debt instruments — 62,629 (a) — 62,629 Registered investment companies 3,572 (d) — — 3,572 Other — 49,677 (f) — 49,677 Total investments $37,361 $154,528 $— $540,493 Other pending transactions 480 Plus: Other postretirement assets included in the investments of the qualified pension trust 38,096 Total fair value of other postretirement assets $579,069 (a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes. (b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices. (c) The common collective trusts hold investments in accordance with stated objectives. The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index. Net asset value per share of common collective trusts estimate fair value. Certain of these common collective trusts are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. (d) Registered investment companies are money market mutual funds with a stable net asset value of one dollar per share. Registered investment companies may hold investments in domestic and international bond markets or domestic equities and estimate fair value using net asset value per share. (e) Certain of these registered investment companies are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. (f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes. (g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value. The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust. (h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. 103-12 investment entities estimate fair value using net asset value as a practical expedient. |
Estimated Future Benefit Payments | Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2016 , and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows: Estimated Future Benefits Payments Qualified Pension Non-Qualified Pension Other Postretirement (before Medicare Subsidy) Estimated Future Medicare Subsidy Receipts (In Thousands) Year(s) 2017 $316,770 $31,687 $83,638 $330 2018 $328,101 $12,251 $88,235 $1,069 2019 $343,982 $11,428 $92,511 $1,204 2020 $362,642 $13,183 $95,167 $1,357 2021 $375,354 $11,321 $98,043 $1,518 2022 - 2026 $2,128,911 $79,373 $510,419 $10,336 |
Actuarial Assumptions Used In Determining Pension And Other Postretirement Benefit Obligation | The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2016 and 2015 were as follows: 2016 2015 Weighted-average discount rate: Qualified pension 4.30% - 4.49% Blended 4.39% 4.51% - 4.79% Blended 4.67% Other postretirement 4.30% 4.60% Non-qualified pension 3.63% 3.84% Weighted-average rate of increase in future compensation levels 3.98% 4.23% Assumed health care trend rate: Pre-65 6.55% 6.75% Post-65 7.25% 7.55% Ultimate rate 4.75% 4.75% Year ultimate rate is reached and beyond: Pre-65 2026 2024 Post-65 2026 2024 |
Actuarial Assumptions Used In Determining Net Periodic And Other Postretirement Benefit Obligation | The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2016 , 2015 , and 2014 were as follows: 2016 2015 2014 Weighted-average discount rate: Qualified pension: Service cost 5.00% 4.27% 5.14% Interest cost 3.90% 4.27% 5.14% Other postretirement: Service cost 4.92% 4.23% 5.05% Interest cost 3.78% 4.23% 5.05% Non-qualified pension: Service cost 3.65% 3.61% 4.29% Interest cost 3.10% 3.61% 4.29% Weighted-average rate of increase in future compensation levels 4.23% 4.23% 4.23% Expected long-term rate of return on plan assets: Pension assets 7.75% 8.25% 8.50% Other postretirement non-taxable assets 7.75% 8.05% 8.30% Other postretirement taxable assets 6.00% 6.25% 6.50% Assumed health care trend rate: Pre-65 6.75% 7.10% 7.25% Post-65 7.55% 7.70% 7.00% Ultimate rate 4.75% 4.75% 4.75% Year ultimate rate is reached and beyond: Pre-65 2024 2023 2022 Post-65 2024 2023 2022 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | one percentage point change in Entergy’s assumed health care cost trend rate for 2016 would have the following effects: 1 Percentage Point Increase 1 Percentage Point Decrease 2016 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase /(Decrease) (In Thousands) Entergy Corporation and its subsidiaries $173,057 $12,281 ($144,460 ) ($9,928 ) |
Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy Corporation’s and its subsidiaries’ total 2016 , 2015 , and 2014 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2016 2015 2014 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $32,291 $45,305 $43,493 Interest cost on APBO 56,331 71,934 71,841 Expected return on assets (41,820 ) (45,375 ) (44,787 ) Amortization of prior service credit (45,490 ) (37,280 ) (31,590 ) Recognized net loss 18,214 31,573 11,143 Net other postretirement benefit cost $19,526 $66,157 $50,100 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($20,353 ) ($48,192 ) ($35,864 ) Net loss/(gain) 49,805 (154,339 ) 287,313 Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 45,490 37,280 31,590 Amortization of net loss (18,214 ) (31,573 ) (11,143 ) Total $56,728 ($196,824 ) $271,896 Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) $76,254 ($130,667 ) $321,996 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($41,425 ) ($45,485 ) ($37,280 ) Net loss $21,905 $18,214 $31,591 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 2015 (In Thousands) Change in APBO Balance at January 1 $1,530,829 $1,739,557 Service cost 32,291 45,305 Interest cost 56,331 71,934 Plan amendments (20,353 ) (48,192 ) Plan participant contributions 27,686 29,685 Actuarial (gain)/loss 46,201 (208,017 ) Benefits paid (104,477 ) (102,618 ) Medicare Part D subsidy received 455 3,175 Balance at December 31 $1,568,963 $1,530,829 Change in Plan Assets Fair value of assets at January 1 $579,069 $597,627 Actual return on plan assets 38,216 (8,303 ) Employer contributions 56,166 62,678 Plan participant contributions 27,686 29,685 Benefits paid (104,477 ) (102,618 ) Fair value of assets at December 31 $596,660 $579,069 Funded status ($972,303 ) ($951,760 ) Amounts recognized in the balance sheet Current liabilities ($45,255 ) ($41,326 ) Non-current liabilities (927,048 ) (910,434 ) Total funded status ($972,303 ) ($951,760 ) Amounts recognized as a regulatory asset Prior service credit ($54,896 ) ($61,833 ) Net loss 222,540 191,782 $167,644 $129,949 Amounts recognized as AOCI (before tax) Prior service credit ($89,474 ) ($107,673 ) Net loss 172,575 171,742 $83,101 $64,069 |
Entergy Arkansas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $76,603 $73,648 $21,416 $8,829 $20,614 $14,314 2018 $77,401 $75,927 $21,944 $9,129 $21,230 $14,681 2019 $78,484 $78,351 $22,423 $9,467 $21,753 $15,147 2020 $79,804 $81,148 $23,135 $9,979 $22,429 $15,747 2021 $81,382 $84,705 $23,801 $10,577 $23,048 $16,359 2022 - 2026 $436,154 $479,274 $127,886 $60,044 $122,832 $98,295 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2017 $242 $233 $137 $20 $773 2018 $351 $222 $126 $20 $741 2019 $282 $211 $124 $51 $716 2020 $318 $200 $245 $34 $799 2021 $282 $189 $167 $36 $690 2022 - 2026 $2,192 $776 $901 $361 $3,637 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $16,195 $19,284 $4,522 $4,054 $7,137 $3,331 2018 $16,505 $19,986 $4,772 $4,086 $7,576 $3,392 2019 $16,524 $20,700 $4,859 $4,126 $7,904 $3,505 2020 $16,410 $21,218 $5,032 $4,084 $8,155 $3,555 2021 $16,610 $21,804 $5,192 $4,065 $8,443 $3,706 2022 - 2026 $82,670 $114,287 $26,500 $19,532 $42,855 $19,376 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $73 $75 $26 $18 $30 $10 2018 $235 $242 $83 $53 $93 $33 2019 $265 $268 $91 $56 $100 $40 2020 $296 $297 $99 $59 $108 $47 2021 $325 $330 $107 $61 $115 $54 2022 - 2026 $2,119 $2,193 $666 $353 $723 $424 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2016 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2016 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $25,743 $1,609 ($21,520 ) ($1,313 ) Entergy Louisiana $37,874 $2,910 ($31,510 ) ($2,343 ) Entergy Mississippi $7,997 $625 ($6,710 ) ($498 ) Entergy New Orleans $4,941 $259 ($4,184 ) ($214 ) Entergy Texas $14,187 $758 ($11,896 ) ($619 ) System Energy $7,750 $489 ($6,401 ) ($394 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2017: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $79,386 $87,702 $19,117 $9,904 $17,000 $18,096 Other Postretirement Contributions $525 $19,284 $140 $3,669 $3,231 $690 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2016 , 2015 , and 2014 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 2014 $3,044 $4,133 $1,855 $710 $1,563 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($2,128 ) ($237 ) ($119 ) ($19 ) ($773 ) Non-current liabilities (2,566 ) (2,313 ) (2,066 ) (449 ) (8,059 ) Total funded status ($4,694 ) ($2,550 ) ($2,185 ) ($468 ) ($8,832 ) Regulatory asset/(liability) $2,356 $544 $883 ($136 ) ($333 ) Accumulated other comprehensive income (before taxes) $— $41 $— $— $— |
Entergy Arkansas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— |
Reclassification Out of Accumulated Other Comprehensive Income, Amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2016: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($1,079 ) $30,949 ($456 ) $29,414 Acceleration of prior service cost due to curtailment (1,045 ) — — (1,045 ) Amortization of loss (49,930 ) (8,248 ) (2,515 ) (60,693 ) Settlement loss — — (2,007 ) (2,007 ) ($52,054 ) $22,701 ($4,978 ) ($34,331 ) Entergy Louisiana Amortization of prior service cost $— $7,787 ($1 ) $7,786 Amortization of loss (3,345 ) (2,926 ) (10 ) (6,281 ) ($3,345 ) $4,861 ($11 ) $1,505 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2015: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($1,557 ) $25,905 ($428 ) $23,920 Acceleration of prior service cost due to curtailment (374 ) — — (374 ) Amortization of loss (50,508 ) (17,613 ) (2,175 ) (70,296 ) Settlement loss — — (1,401 ) (1,401 ) ($52,439 ) $8,292 ($4,004 ) ($48,151 ) Entergy Louisiana Amortization of prior service cost $— $7,467 ($3 ) $7,464 Amortization of loss (3,003 ) (7,118 ) (19 ) (10,140 ) Settlement loss — — (14 ) (14 ) ($3,003 ) $349 ($36 ) ($2,690 ) |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $76,603 $73,648 $21,416 $8,829 $20,614 $14,314 2018 $77,401 $75,927 $21,944 $9,129 $21,230 $14,681 2019 $78,484 $78,351 $22,423 $9,467 $21,753 $15,147 2020 $79,804 $81,148 $23,135 $9,979 $22,429 $15,747 2021 $81,382 $84,705 $23,801 $10,577 $23,048 $16,359 2022 - 2026 $436,154 $479,274 $127,886 $60,044 $122,832 $98,295 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2017 $242 $233 $137 $20 $773 2018 $351 $222 $126 $20 $741 2019 $282 $211 $124 $51 $716 2020 $318 $200 $245 $34 $799 2021 $282 $189 $167 $36 $690 2022 - 2026 $2,192 $776 $901 $361 $3,637 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $16,195 $19,284 $4,522 $4,054 $7,137 $3,331 2018 $16,505 $19,986 $4,772 $4,086 $7,576 $3,392 2019 $16,524 $20,700 $4,859 $4,126 $7,904 $3,505 2020 $16,410 $21,218 $5,032 $4,084 $8,155 $3,555 2021 $16,610 $21,804 $5,192 $4,065 $8,443 $3,706 2022 - 2026 $82,670 $114,287 $26,500 $19,532 $42,855 $19,376 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $73 $75 $26 $18 $30 $10 2018 $235 $242 $83 $53 $93 $33 2019 $265 $268 $91 $56 $100 $40 2020 $296 $297 $99 $59 $108 $47 2021 $325 $330 $107 $61 $115 $54 2022 - 2026 $2,119 $2,193 $666 $353 $723 $424 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2016 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2016 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $25,743 $1,609 ($21,520 ) ($1,313 ) Entergy Louisiana $37,874 $2,910 ($31,510 ) ($2,343 ) Entergy Mississippi $7,997 $625 ($6,710 ) ($498 ) Entergy New Orleans $4,941 $259 ($4,184 ) ($214 ) Entergy Texas $14,187 $758 ($11,896 ) ($619 ) System Energy $7,750 $489 ($6,401 ) ($394 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2017: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $79,386 $87,702 $19,117 $9,904 $17,000 $18,096 Other Postretirement Contributions $525 $19,284 $140 $3,669 $3,231 $690 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2016 , 2015 , and 2014 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 2014 $3,044 $4,133 $1,855 $710 $1,563 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($2,128 ) ($237 ) ($119 ) ($19 ) ($773 ) Non-current liabilities (2,566 ) (2,313 ) (2,066 ) (449 ) (8,059 ) Total funded status ($4,694 ) ($2,550 ) ($2,185 ) ($468 ) ($8,832 ) Regulatory asset/(liability) $2,356 $544 $883 ($136 ) ($333 ) Accumulated other comprehensive income (before taxes) $— $41 $— $— $— |
Entergy Louisiana [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— |
Entergy Mississippi [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $76,603 $73,648 $21,416 $8,829 $20,614 $14,314 2018 $77,401 $75,927 $21,944 $9,129 $21,230 $14,681 2019 $78,484 $78,351 $22,423 $9,467 $21,753 $15,147 2020 $79,804 $81,148 $23,135 $9,979 $22,429 $15,747 2021 $81,382 $84,705 $23,801 $10,577 $23,048 $16,359 2022 - 2026 $436,154 $479,274 $127,886 $60,044 $122,832 $98,295 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2017 $242 $233 $137 $20 $773 2018 $351 $222 $126 $20 $741 2019 $282 $211 $124 $51 $716 2020 $318 $200 $245 $34 $799 2021 $282 $189 $167 $36 $690 2022 - 2026 $2,192 $776 $901 $361 $3,637 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $16,195 $19,284 $4,522 $4,054 $7,137 $3,331 2018 $16,505 $19,986 $4,772 $4,086 $7,576 $3,392 2019 $16,524 $20,700 $4,859 $4,126 $7,904 $3,505 2020 $16,410 $21,218 $5,032 $4,084 $8,155 $3,555 2021 $16,610 $21,804 $5,192 $4,065 $8,443 $3,706 2022 - 2026 $82,670 $114,287 $26,500 $19,532 $42,855 $19,376 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $73 $75 $26 $18 $30 $10 2018 $235 $242 $83 $53 $93 $33 2019 $265 $268 $91 $56 $100 $40 2020 $296 $297 $99 $59 $108 $47 2021 $325 $330 $107 $61 $115 $54 2022 - 2026 $2,119 $2,193 $666 $353 $723 $424 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2016 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2016 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $25,743 $1,609 ($21,520 ) ($1,313 ) Entergy Louisiana $37,874 $2,910 ($31,510 ) ($2,343 ) Entergy Mississippi $7,997 $625 ($6,710 ) ($498 ) Entergy New Orleans $4,941 $259 ($4,184 ) ($214 ) Entergy Texas $14,187 $758 ($11,896 ) ($619 ) System Energy $7,750 $489 ($6,401 ) ($394 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2017: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $79,386 $87,702 $19,117 $9,904 $17,000 $18,096 Other Postretirement Contributions $525 $19,284 $140 $3,669 $3,231 $690 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2016 , 2015 , and 2014 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 2014 $3,044 $4,133 $1,855 $710 $1,563 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($2,128 ) ($237 ) ($119 ) ($19 ) ($773 ) Non-current liabilities (2,566 ) (2,313 ) (2,066 ) (449 ) (8,059 ) Total funded status ($4,694 ) ($2,550 ) ($2,185 ) ($468 ) ($8,832 ) Regulatory asset/(liability) $2,356 $544 $883 ($136 ) ($333 ) Accumulated other comprehensive income (before taxes) $— $41 $— $— $— |
Entergy Mississippi [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— |
Entergy New Orleans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $76,603 $73,648 $21,416 $8,829 $20,614 $14,314 2018 $77,401 $75,927 $21,944 $9,129 $21,230 $14,681 2019 $78,484 $78,351 $22,423 $9,467 $21,753 $15,147 2020 $79,804 $81,148 $23,135 $9,979 $22,429 $15,747 2021 $81,382 $84,705 $23,801 $10,577 $23,048 $16,359 2022 - 2026 $436,154 $479,274 $127,886 $60,044 $122,832 $98,295 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2017 $242 $233 $137 $20 $773 2018 $351 $222 $126 $20 $741 2019 $282 $211 $124 $51 $716 2020 $318 $200 $245 $34 $799 2021 $282 $189 $167 $36 $690 2022 - 2026 $2,192 $776 $901 $361 $3,637 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $16,195 $19,284 $4,522 $4,054 $7,137 $3,331 2018 $16,505 $19,986 $4,772 $4,086 $7,576 $3,392 2019 $16,524 $20,700 $4,859 $4,126 $7,904 $3,505 2020 $16,410 $21,218 $5,032 $4,084 $8,155 $3,555 2021 $16,610 $21,804 $5,192 $4,065 $8,443 $3,706 2022 - 2026 $82,670 $114,287 $26,500 $19,532 $42,855 $19,376 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $73 $75 $26 $18 $30 $10 2018 $235 $242 $83 $53 $93 $33 2019 $265 $268 $91 $56 $100 $40 2020 $296 $297 $99 $59 $108 $47 2021 $325 $330 $107 $61 $115 $54 2022 - 2026 $2,119 $2,193 $666 $353 $723 $424 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2016 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2016 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $25,743 $1,609 ($21,520 ) ($1,313 ) Entergy Louisiana $37,874 $2,910 ($31,510 ) ($2,343 ) Entergy Mississippi $7,997 $625 ($6,710 ) ($498 ) Entergy New Orleans $4,941 $259 ($4,184 ) ($214 ) Entergy Texas $14,187 $758 ($11,896 ) ($619 ) System Energy $7,750 $489 ($6,401 ) ($394 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2017: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $79,386 $87,702 $19,117 $9,904 $17,000 $18,096 Other Postretirement Contributions $525 $19,284 $140 $3,669 $3,231 $690 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2016 , 2015 , and 2014 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 2014 $3,044 $4,133 $1,855 $710 $1,563 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($2,128 ) ($237 ) ($119 ) ($19 ) ($773 ) Non-current liabilities (2,566 ) (2,313 ) (2,066 ) (449 ) (8,059 ) Total funded status ($4,694 ) ($2,550 ) ($2,185 ) ($468 ) ($8,832 ) Regulatory asset/(liability) $2,356 $544 $883 ($136 ) ($333 ) Accumulated other comprehensive income (before taxes) $— $41 $— $— $— |
Entergy New Orleans [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— |
Entergy Texas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $76,603 $73,648 $21,416 $8,829 $20,614 $14,314 2018 $77,401 $75,927 $21,944 $9,129 $21,230 $14,681 2019 $78,484 $78,351 $22,423 $9,467 $21,753 $15,147 2020 $79,804 $81,148 $23,135 $9,979 $22,429 $15,747 2021 $81,382 $84,705 $23,801 $10,577 $23,048 $16,359 2022 - 2026 $436,154 $479,274 $127,886 $60,044 $122,832 $98,295 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2017 $242 $233 $137 $20 $773 2018 $351 $222 $126 $20 $741 2019 $282 $211 $124 $51 $716 2020 $318 $200 $245 $34 $799 2021 $282 $189 $167 $36 $690 2022 - 2026 $2,192 $776 $901 $361 $3,637 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $16,195 $19,284 $4,522 $4,054 $7,137 $3,331 2018 $16,505 $19,986 $4,772 $4,086 $7,576 $3,392 2019 $16,524 $20,700 $4,859 $4,126 $7,904 $3,505 2020 $16,410 $21,218 $5,032 $4,084 $8,155 $3,555 2021 $16,610 $21,804 $5,192 $4,065 $8,443 $3,706 2022 - 2026 $82,670 $114,287 $26,500 $19,532 $42,855 $19,376 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $73 $75 $26 $18 $30 $10 2018 $235 $242 $83 $53 $93 $33 2019 $265 $268 $91 $56 $100 $40 2020 $296 $297 $99 $59 $108 $47 2021 $325 $330 $107 $61 $115 $54 2022 - 2026 $2,119 $2,193 $666 $353 $723 $424 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2016 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2016 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $25,743 $1,609 ($21,520 ) ($1,313 ) Entergy Louisiana $37,874 $2,910 ($31,510 ) ($2,343 ) Entergy Mississippi $7,997 $625 ($6,710 ) ($498 ) Entergy New Orleans $4,941 $259 ($4,184 ) ($214 ) Entergy Texas $14,187 $758 ($11,896 ) ($619 ) System Energy $7,750 $489 ($6,401 ) ($394 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2017: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $79,386 $87,702 $19,117 $9,904 $17,000 $18,096 Other Postretirement Contributions $525 $19,284 $140 $3,669 $3,231 $690 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2016 , 2015 , and 2014 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 2014 $3,044 $4,133 $1,855 $710 $1,563 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2016 , 2015 , and 2014 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 2014 $754 $135 $190 $95 $491 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,897 $2,134 $2,296 $514 $8,665 2015 $4,694 $2,550 $2,185 $468 $8,832 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2016 and 2015 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2016 $3,439 $2,134 $1,961 $452 $8,333 2015 $4,495 $2,538 $1,802 $417 $8,460 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2016 and 2015 : 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($2,128 ) ($237 ) ($119 ) ($19 ) ($773 ) Non-current liabilities (2,566 ) (2,313 ) (2,066 ) (449 ) (8,059 ) Total funded status ($4,694 ) ($2,550 ) ($2,185 ) ($468 ) ($8,832 ) Regulatory asset/(liability) $2,356 $544 $883 ($136 ) ($333 ) Accumulated other comprehensive income (before taxes) $— $41 $— $— $— |
Entergy Texas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— |
System Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2016 , 2015 , and 2014 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/cost regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,090 $25,706 $6,094 $2,666 $5,142 $5,785 Interest cost on projected benefit obligation 59,537 66,984 17,273 8,164 17,746 13,561 Expected return on assets (73,218 ) (83,746 ) (22,794 ) (10,019 ) (23,723 ) (16,619 ) Amortization of prior service cost — — — — — 2 Recognized net loss 35,956 40,446 9,415 5,796 9,356 9,500 Net pension cost $42,365 $49,390 $9,988 $6,607 $8,521 $12,229 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain $300,907 $318,932 $88,199 $38,161 $65,363 $60,763 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — — — — — (2 ) Amortization of net loss (35,956 ) (40,446 ) (9,415 ) (5,796 ) (9,356 ) (9,500 ) Total $264,951 $278,486 $78,784 $32,365 $56,007 $51,261 Total recognized as net periodic pension income, regulatory asset, and/or AOCI (before tax) $307,316 $327,876 $88,772 $38,972 $64,528 $63,490 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $54,254 $59,802 $14,896 $8,053 $12,950 $13,055 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2016 and 2015 are as follows: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial (gain)/loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,485,718 $1,666,535 $432,169 $202,555 $418,498 $334,312 Service cost 26,646 34,396 7,929 3,395 6,582 7,827 Interest cost 61,885 69,465 18,007 8,432 17,414 13,970 Actuarial (gain)/loss (87,617 ) (101,361 ) (25,492 ) (12,289 ) (36,862 ) (23,720 ) Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Balance at December 31 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Change in Plan Assets Fair value of assets at January 1 $977,521 $1,113,359 $301,250 $133,344 $310,713 $217,621 Actual return on plan assets (24,201 ) (27,175 ) (7,401 ) (3,243 ) (7,487 ) (5,550 ) Employer contributions 92,419 89,375 22,457 10,903 17,157 20,782 Benefits paid (86,121 ) (104,325 ) (24,009 ) (11,029 ) (22,005 ) (20,847 ) Fair value of assets at December 31 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Funded status ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($440,893 ) ($493,476 ) ($116,307 ) ($61,089 ) ($85,249 ) ($99,536 ) Amounts recognized as regulatory asset Net loss $684,552 $687,305 $190,406 $95,941 $159,085 $159,508 Amounts recognized as AOCI (before tax) Net loss $— $51,733 $— $— $— $— |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $76,603 $73,648 $21,416 $8,829 $20,614 $14,314 2018 $77,401 $75,927 $21,944 $9,129 $21,230 $14,681 2019 $78,484 $78,351 $22,423 $9,467 $21,753 $15,147 2020 $79,804 $81,148 $23,135 $9,979 $22,429 $15,747 2021 $81,382 $84,705 $23,801 $10,577 $23,048 $16,359 2022 - 2026 $436,154 $479,274 $127,886 $60,044 $122,832 $98,295 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2017 $242 $233 $137 $20 $773 2018 $351 $222 $126 $20 $741 2019 $282 $211 $124 $51 $716 2020 $318 $200 $245 $34 $799 2021 $282 $189 $167 $36 $690 2022 - 2026 $2,192 $776 $901 $361 $3,637 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $16,195 $19,284 $4,522 $4,054 $7,137 $3,331 2018 $16,505 $19,986 $4,772 $4,086 $7,576 $3,392 2019 $16,524 $20,700 $4,859 $4,126 $7,904 $3,505 2020 $16,410 $21,218 $5,032 $4,084 $8,155 $3,555 2021 $16,610 $21,804 $5,192 $4,065 $8,443 $3,706 2022 - 2026 $82,670 $114,287 $26,500 $19,532 $42,855 $19,376 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2017 $73 $75 $26 $18 $30 $10 2018 $235 $242 $83 $53 $93 $33 2019 $265 $268 $91 $56 $100 $40 2020 $296 $297 $99 $59 $108 $47 2021 $325 $330 $107 $61 $115 $54 2022 - 2026 $2,119 $2,193 $666 $353 $723 $424 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2016 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2016 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $25,743 $1,609 ($21,520 ) ($1,313 ) Entergy Louisiana $37,874 $2,910 ($31,510 ) ($2,343 ) Entergy Mississippi $7,997 $625 ($6,710 ) ($498 ) Entergy New Orleans $4,941 $259 ($4,184 ) ($214 ) Entergy Texas $14,187 $758 ($11,896 ) ($619 ) System Energy $7,750 $489 ($6,401 ) ($394 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2017: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $79,386 $87,702 $19,117 $9,904 $17,000 $18,096 Other Postretirement Contributions $525 $19,284 $140 $3,669 $3,231 $690 |
System Energy [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2016 , 2015 , and 2014 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income, regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 2014 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $5,957 $9,414 $1,900 $868 $2,378 $2,058 Interest cost on APBO 12,261 16,642 3,655 2,805 5,652 2,611 Expected return on assets (19,135 ) — (5,771 ) (4,475 ) (10,358 ) (3,727 ) Amortization of prior service credit (2,441 ) (5,614 ) (915 ) (709 ) (1,300 ) (824 ) Recognized net loss 1,267 2,723 149 56 801 443 Net other postretirement benefit cost ($2,091 ) $23,165 ($982 ) ($1,455 ) ($2,827 ) $561 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period $— ($12,845 ) $— $— ($8,536 ) ($3,845 ) Net loss 55,642 61,049 9,525 6,309 24,482 10,596 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 5,614 915 709 1,300 824 Amortization of net loss (1,267 ) (2,723 ) (149 ) (56 ) (801 ) (443 ) Total $56,816 $51,095 $10,291 $6,962 $16,445 $7,132 Total recognized as net periodic other postretirement cost, regulatory asset, and/or AOCI (before tax) $54,725 $74,260 $9,309 $5,507 $13,618 $7,693 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($2,441 ) ($7,467 ) ($916 ) ($709 ) ($2,723 ) ($1,465 ) Net loss $5,356 $7,118 $860 $470 $2,740 $1,198 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $303,716 $394,946 $83,162 $63,779 $130,145 $60,754 Service cost 6,957 9,893 2,028 818 2,000 1,881 Interest cost 12,518 16,311 3,436 2,608 5,366 2,511 Plan amendments (18,035 ) (1,361 ) — — — (644 ) Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Actuarial (gain)/loss (34,217 ) (47,043 ) (6,407 ) (12,118 ) (17,052 ) (3,973 ) Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Medicare Part D subsidy received 619 825 206 137 306 118 Balance at December 31 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Change in Plan Assets Fair value of assets at January 1 $244,191 $— $80,935 $71,004 $135,733 $48,293 Actual return on plan assets (3,049 ) — (1,015 ) (1,504 ) (1,794 ) (634 ) Employer contributions 14,722 17,318 661 3,654 2,618 260 Plan participant contributions 6,818 6,864 1,884 1,259 2,092 1,530 Benefits paid (19,476 ) (24,182 ) (6,927 ) (4,532 ) (8,275 ) (4,532 ) Fair value of assets at December 31 $243,206 $— $75,538 $69,881 $130,374 $44,917 Funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in the balance sheet Current liabilities $— ($18,857 ) $— $— $— $— Non-current liabilities (15,694 ) (337,396 ) (1,844 ) 17,930 15,792 (12,728 ) Total funded status ($15,694 ) ($356,253 ) ($1,844 ) $17,930 $15,792 ($12,728 ) Amounts recognized in regulatory asset Prior service credit ($26,149 ) $— ($3,225 ) ($2,917 ) ($11,018 ) ($6,902 ) Net loss 77,313 — 18,594 6,458 38,806 19,557 $51,164 $— $15,369 $3,541 $27,788 $12,655 Amounts recognized in AOCI (before tax) Prior service credit $— ($30,874 ) $— $— $— $— Net loss — 70,743 — — — — $— $39,869 $— $— $— $— |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for stock options for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $4.4 $4.3 $4.1 Tax benefit recognized in Entergy’s consolidated net income $1.7 $1.6 $1.6 Compensation cost capitalized as part of fixed assets and inventory $0.7 $0.7 $0.7 |
Schedule of Weighted Average Assumptions | The stock option weighted-average assumptions used in determining the fair values are as follows: 2016 2015 2014 Stock price volatility 20.38% 23.62% 24.67% Expected term in years 7.25 7.06 6.95 Risk-free interest rate 1.77% 1.59% 2.16% Dividend yield 4.50% 4.50% 4.75% Dividend payment per share $3.42 $3.34 $3.32 |
Schedule of Stock Option Activity | A summary of stock option activity for the year ended December 31, 2016 and changes during the year are presented below: Number of Options Weighted- Average Exercise Price Aggregate Intrinsic Value Weighted- Average Contractual Life Options outstanding as of January 1, 2016 7,399,820 $84.19 Options granted 696,900 $70.56 Options exercised (488,131 ) $67.83 Options forfeited/expired (471,379 ) $69.99 Options outstanding as of December 31, 2016 7,137,210 $84.91 $— 3.35 years Options exercisable as of December 31, 2016 6,011,816 $86.96 $— 2.38 years Weighted-average grant-date fair value of options granted during 2016 $7.40 |
Schedule of Stock Options Outstanding | The following table summarizes information about stock options outstanding as of December 31, 2016 : Options Outstanding Options Exercisable Range of As of Weighted-Average Remaining Contractual Life-Yrs. Weighted Average Exercise Price Number Exercisable as of Weighted Average Exercise Price Exercise Prices 12/31/2016 12/31/2016 $51 - $64.99 798,308 6.68 $63.75 627,893 $63.90 $65 - $78.99 2,853,753 4.66 $74.47 2,161,853 $75.72 $79 - $91.99 2,050,549 1.84 $91.40 1,787,470 $91.62 $92 - $108.20 1,434,600 1.06 $108.20 1,434,600 $108.20 $51 - $108.20 7,137,210 3.35 $84.91 6,011,816 $86.96 |
Restricted Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for restricted stock for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $19.8 $19.5 $19.3 Tax benefit recognized in Entergy’s consolidated net income $7.6 $7.5 $7.5 Compensation cost capitalized as part of fixed assets and inventory $4.5 $3.9 $3.1 |
Schedule of Stock Options Outstanding | The following table includes information about the restricted stock awards outstanding as of December 31, 2016 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2016 642,729 $75.88 Granted 401,358 $70.89 Vested (324,862 ) $71.83 Forfeited (35,751 ) $77.38 Outstanding shares at December 31, 2016 683,474 $74.80 |
Long-Term Incentive Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for the long-term performance units for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $12.3 $11.8 $10.7 Tax benefit recognized in Entergy’s consolidated net income $4.8 $4.5 $4.1 Compensation cost capitalized as part of fixed assets and inventory $2.9 $2.3 $1.5 |
Schedule of Stock Options Outstanding | The following table includes information about the long-term performance units outstanding at the target level as of December 31, 2016 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2016 568,482 $75.33 Granted 241,236 $85.26 Vested (54,103 ) $65.36 Forfeited (184,064 ) $70.53 Outstanding shares at December 31, 2016 571,551 $82.02 |
Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for restricted stock unit awards for each of the years presented: 2016 2015 2014 (In Millions) Compensation expense included in Entergy’s consolidated net income $2.2 $0.9 $2.2 Tax benefit recognized in Entergy’s consolidated net income $0.8 $0.4 $0.9 Compensation cost capitalized as part of fixed assets and inventory $0.4 $0.3 $0.3 |
Schedule of Stock Options Outstanding | The following table includes information about the restricted stock unit awards outstanding as of December 31, 2016 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2016 145,018 $72.03 Granted 70,800 $76.25 Vested (30,668 ) $70.66 Forfeited (3,500 ) $66.83 Outstanding shares at December 31, 2016 181,650 $74.94 |
Business Segment Information Bu
Business Segment Information Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information, by Segment | Entergy’s segment financial information is as follows: 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 2014 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,773,822 $2,719,404 $1,821 ($126 ) $12,494,921 Asset write-offs, impairments, and related charges $72,225 $107,527 $— $— $179,752 Depreciation, amortization, & decommissioning $1,170,122 $417,435 $3,702 $— $1,591,259 Interest and investment income $171,217 $113,959 $22,159 ($159,649 ) $147,686 Interest expense $531,729 $16,646 $120,908 ($41,776 ) $627,507 Income taxes $472,148 $176,988 ($59,539 ) $— $589,597 Consolidated net income (loss) $846,496 $294,521 ($62,887 ) ($117,873 ) $960,257 Total assets $38,186,286 $10,279,500 ($659,207 ) ($1,392,124 ) $46,414,455 Investment in affiliates - at equity $199 $36,035 $— $— $36,234 Cash paid for long-lived asset additions $2,113,631 $615,021 $87 $— $2,728,739 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. |
Restructuring and Related Costs | Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 |
Entergy Wholesale Commodities [Member] | |
Segment Reporting Information [Line Items] | |
Restructuring and Related Costs | Total restructuring charges in 2016 were comprised of the following: Restructuring Costs Paid In Cash Non-Cash Portion Remaining Accrual (In Millions) Employee retention and severances expenses and other benefits-related costs $74.2 $0.9 $3.1 $70.2 Economic development costs 21.3 — — 21.3 Total $95.5 $0.9 $3.1 $91.5 |
Acquisitions, Dispositions, a44
Acquisitions, Dispositions, and Impairment of Long-Lived Assets Acquisitions, Dispositions, and Impairments of Long-Lived Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Significant Unobservable Inputs [Table Text Block] | The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Indian Point, Pilgrim, and Palisades plants and related assets: Significant Unobservable Inputs Amount Weighted Average 2016 Weighted average cost of capital Indian Point (a) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (c) 17.8%-38.8% 34.6% 2015 Weighted average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (d) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (d) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% (a) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that originally was scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. (d) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. |
Risk Management And Fair Valu45
Risk Management And Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Inputs Liabilities Quantitative Information | The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy and significant unobservable inputs to each which cause that classification, as of December 31, 2016 : Transaction Type Fair Value as of December 31, 2016 Significant Unobservable Inputs Range from Average % Effect on Fair Value (In Millions) (In Millions) Power contracts - electricity swaps $5 Unit contingent discount +/-4% $— |
Fair Values Of Derivative Instruments | The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities 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 Financial transmission rights 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 $2 million posted as of December 31, 2016 and $9 million posted and $68 million held as of December 31, 2015. |
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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) 2014 Electricity swaps and options $81 Competitive business operating revenues ($193) (a) Before taxes of $103 million , ($85) million , and ($68) million , for the years ended December 31, 2016 , 2015 , and 2014 , 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 years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) 2014 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($8) Financial transmission rights $— Purchased power expense (b) $229 Electricity swaps and options ($13) (c) Competitive business operating revenues $56 (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. |
Assets and liabilities at fair value on a recurring basis | The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 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 $1,058 $— $— $1,058 Decommissioning trust funds (a): Equity securities 480 — — 480 Debt securities 985 1,228 — 2,213 Common trusts (b) 3,031 Power contracts — — 16 16 Securitization recovery trust account 46 — — 46 Escrow accounts 433 — — 433 Gas hedge contracts 13 — — 13 Financial transmission rights — — 21 21 $3,015 $1,228 $37 $7,311 Liabilities: Power contracts $— $— $11 $11 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 Financial transmission rights — — 23 23 $3,291 $1,094 $218 $7,330 Liabilities: Power contracts $— $— $6 $6 Gas hedge contracts 9 — — 9 $9 $— $6 $15 (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 16 to the financial statements for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the years ended December 31, 2016 , 2015 , and 2014 : 2016 2015 2014 Power Contracts Financial transmission rights Power Contracts Financial transmission rights Power Contracts Financial transmission rights (In Millions) Balance as of January 1, $189 $23 $215 $47 ($133 ) $34 Total gains (losses) for the period (a) Included in earnings (10 ) — (20 ) (1 ) 55 2 Included in OCI 135 — 254 — 131 — Included as a regulatory liability/asset — 68 — 63 — 119 Issuances of financial transmission rights — 55 — 80 — 121 Purchases — — 15 — 17 — Settlements (309 ) (125 ) (275 ) (166 ) 145 (229 ) Balance as of December 31, $5 $21 $189 $23 $215 $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 $0.2 million , $3 million , and $120 million for the years ended December 31, 2016, 2015, and 2014, respectively. |
Entergy Arkansas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets that are accounted for at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 . The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. Entergy Arkansas 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $3.6 $— $— $3.6 Debt securities 112.5 196.8 — 309.3 Common trusts (b) 521.8 Securitization recovery trust account 4.1 — — 4.1 Escrow accounts 7.1 — — 7.1 Financial transmission rights — — 5.4 5.4 $127.3 $196.8 $5.4 $851.3 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 Financial transmission rights — — 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 year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 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 financial transmission rights 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 68.9 (9.9 ) 10.1 (1.4 ) (4.7 ) Settlements (68.7 ) (55.4 ) (16.5 ) (8.5 ) (16.8 ) Balance as of December 31, $7.9 $8.5 $2.4 $1.5 $2.2 |
Entergy Louisiana [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
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 $163.9 $— $— $163.9 Decommissioning trust funds (a): Equity securities 13.9 — — 13.9 Debt securities 132.3 292.5 — 424.8 Common trusts (b) 702.0 Escrow accounts 305.7 — — 305.7 Securitization recovery trust account 2.8 — — 2.8 Gas hedge contracts 10.9 — — 10.9 Financial transmission rights — — 8.5 8.5 $629.5 $292.5 $8.5 $1,632.5 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 Financial transmission rights — — 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 year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 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 financial transmission rights 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 68.9 (9.9 ) 10.1 (1.4 ) (4.7 ) Settlements (68.7 ) (55.4 ) (16.5 ) (8.5 ) (16.8 ) Balance as of December 31, $7.9 $8.5 $2.4 $1.5 $2.2 |
Entergy Mississippi [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
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 $76.8 $— $— $76.8 Escrow accounts 31.8 — — 31.8 Gas hedge contracts 2.3 — — 2.3 Financial transmission rights — — 3.2 3.2 $110.9 $— $3.2 $114.1 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $144.2 $— $— $144.2 Escrow accounts 41.7 — — 41.7 Financial transmission rights — — 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 year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 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 financial transmission rights 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 68.9 (9.9 ) 10.1 (1.4 ) (4.7 ) Settlements (68.7 ) (55.4 ) (16.5 ) (8.5 ) (16.8 ) Balance as of December 31, $7.9 $8.5 $2.4 $1.5 $2.2 |
Entergy New Orleans [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
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 $103.0 $— $— $103.0 Securitization recovery trust account 1.7 — — 1.7 Escrow accounts 88.6 — — 88.6 Gas hedge contracts 0.2 — — 0.2 Financial transmission rights — — 1.1 1.1 $193.5 $— $1.1 $194.6 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 Financial transmission rights — — 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 year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 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 financial transmission rights 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 68.9 (9.9 ) 10.1 (1.4 ) (4.7 ) Settlements (68.7 ) (55.4 ) (16.5 ) (8.5 ) (16.8 ) Balance as of December 31, $7.9 $8.5 $2.4 $1.5 $2.2 |
Entergy Texas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2016 and 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas 2015 Assets: Financial transmission rights Prepayments and other $7.9 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $2.4 Entergy Mississippi Financial transmission rights Prepayments and other $1.5 Entergy New Orleans Financial transmission rights 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) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. No cash or letters of credit were required to be posted for financial transmission right exposure as of December 31, 2015. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas 2014 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($2.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.2) (a) Entergy New Orleans Financial transmission rights Purchased power $21.6 (b) Entergy Arkansas Financial transmission rights Purchased power $103.5 (b) Entergy Louisiana Financial transmission rights Purchased power $19.0 (b) Entergy Mississippi Financial transmission rights Purchased power $16.5 (b) Entergy New Orleans Financial transmission rights Purchased power $65.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Texas 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $5.0 $— $— $5.0 Securitization recovery trust account 37.5 — — 37.5 Financial transmission rights — — 3.1 3.1 $42.5 $— $3.1 $45.6 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets : Securitization recovery trust account $38.2 $— $— $38.2 Financial transmission rights — — 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 year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 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 financial transmission rights 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 68.9 (9.9 ) 10.1 (1.4 ) (4.7 ) Settlements (68.7 ) (55.4 ) (16.5 ) (8.5 ) (16.8 ) Balance as of December 31, $7.9 $8.5 $2.4 $1.5 $2.2 |
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 $245.1 $— $— $245.1 Decommissioning trust funds (a): Equity securities 0.3 — — 0.3 Debt securities 248.3 58.3 — 306.6 Common trusts (b) 473.6 $493.7 $58.3 $— $1,025.6 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) | 12 Months Ended |
Dec. 31, 2016 | |
Securities Held | The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $3,511 $1,673 $1 $3,195 $1,396 $2 Debt Securities 2,213 34 27 2,155 41 17 Total $5,724 $1,707 $28 $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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $23 $1 $1,169 $26 $54 $2 $1,031 $15 More than 12 months 1 — 20 1 1 — 61 2 Total $24 $1 $1,189 $27 $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 December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $125 $77 1 year - 5 years 763 857 5 years - 10 years 719 704 10 years - 15 years 109 124 15 years - 20 years 73 50 20 years+ 424 343 Total $2,213 $2,155 |
Entergy Arkansas [Member] | |
Securities Held | The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $525.4 $281.5 $— $467.4 $234.4 $0.2 Debt Securities 309.3 3.4 4.2 303.9 4.1 2.2 Total $834.7 $284.9 $4.2 $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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $146.7 $4.2 $7.8 $0.2 $111.4 $1.7 More than 12 months — — — — — — 18.5 0.5 Total $— $— $146.7 $4.2 $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 December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $16.7 $1.8 1 year - 5 years 106.2 145.2 5 years - 10 years 161.2 138.5 10 years - 15 years 7.7 2.4 15 years - 20 years 1.0 2.0 20 years+ 16.5 14.0 Total $309.3 $303.9 |
Entergy Louisiana [Member] | |
Securities Held | The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $715.9 $346.6 $— $632.4 $283.7 $0.2 Debt Securities 424.8 8.0 5.0 409.9 13.2 2.4 Total $1,140.7 $354.6 $5.0 $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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $198.8 $4.8 $9.4 $0.2 $124.0 $2.0 More than 12 months — — 4.8 0.2 — — 7.4 0.4 Total $— $— $203.6 $5.0 $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 December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $31.4 $27.1 1 year - 5 years 99.1 124.0 5 years - 10 years 122.8 114.3 10 years - 15 years 41.4 39.3 15 years - 20 years 30.9 26.5 20 years+ 99.2 78.7 Total $424.8 $409.9 |
System Energy [Member] | |
Securities Held | The securities held as of December 31, 2016 and 2015 are summarized as follows: 2016 2015 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $473.9 $221.9 $0.1 $423.7 $179.2 $0.3 Debt Securities 306.6 2.0 4.5 277.8 2.2 2.3 Total $780.5 $223.9 $4.6 $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 December 31, 2016 and 2015 : 2016 2015 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $220.9 $4.4 $8.3 $0.2 $200.4 $2.2 More than 12 months — 0.1 0.8 0.1 0.9 0.1 5.0 0.1 Total $— $0.1 $221.7 $4.5 $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 December 31, 2016 and 2015 are as follows: 2016 2015 (In Millions) less than 1 year $6.6 $2.0 1 year - 5 years 188.2 181.2 5 years - 10 years 78.5 63.0 10 years - 15 years 1.3 4.4 15 years - 20 years 7.8 1.6 20 years+ 24.2 25.6 Total $306.6 $277.8 |
Transactions With Affiliates (T
Transactions With Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Entergy Arkansas [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 |
Entergy Louisiana [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— |
Entergy Mississippi [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— |
Entergy New Orleans [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 |
Entergy Texas [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 |
System Energy [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 2014 $131.2 $440.2 $169.8 $80.1 $316.1 $664.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 2014 $596.6 $1,027.6 $367.6 $249.5 $445.3 $156.7 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi System Energy (In Millions) 2016 $127.7 $0.1 $0.1 2015 $133.6 $— $— 2014 $117.9 $— $— |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Schedule of Quarterly Financial Data | Operating results for the four quarters of 2016 and 2015 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) 2015: First Quarter $2,920,090 $542,769 $302,929 $298,050 Second Quarter $2,713,231 $377,383 $153,722 $148,843 Third Quarter $3,371,406 ($965,016 ) ($718,233 ) ($723,027 ) Fourth Quarter $2,508,523 ($254,300 ) $104,849 $99,573 Earnings (loss) per average common share 2016 2015 Basic Diluted Basic Diluted First Quarter $1.29 $1.28 $1.66 $1.65 Second Quarter $3.17 $3.16 $0.83 $0.83 Third Quarter $2.17 $2.16 ($4.04 ) ($4.04 ) Fourth Quarter ($9.89 ) ($9.86 ) $0.56 $0.56 |
Entergy Arkansas [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy Louisiana [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy Mississippi [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy New Orleans [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans (In Thousands) 2016: First Quarter $17,576 $111,606 $16,411 $10,926 Second Quarter $32,173 $253,325 $31,487 $11,602 Third Quarter $108,672 $189,506 $45,905 $23,460 Fourth Quarter $3,521 $67,610 $12,938 $1,896 2015: First Quarter $16,147 $124,165 $24,228 $11,051 Second Quarter $19,807 $107,037 $25,572 $10,654 Third Quarter $53,944 $185,290 $35,869 $18,922 Fourth Quarter ($22,499 ) $24,410 $4,211 $3,333 |
Entergy Texas [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 |
System Energy [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2016 and 2015 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 2015: First Quarter $511,253 $1,069,191 $360,815 $156,626 $411,211 $156,039 Second Quarter $551,809 $1,074,598 $344,975 $160,752 $402,921 $163,101 Third Quarter $714,353 $1,298,482 $410,743 $209,733 $498,249 $155,899 Fourth Quarter $476,149 $974,875 $280,452 $144,335 $394,822 $157,366 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 2015: First Quarter $36,656 $185,776 $54,839 $20,745 $44,013 $47,784 Second Quarter $55,149 $191,068 $58,086 $20,154 $44,064 $45,470 Third Quarter $109,236 $294,436 $74,264 $34,734 $86,624 $47,135 Fourth Quarter ($21,635 ) $47,052 $24,717 $9,337 $8,944 $45,239 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 2015: First Quarter $17,865 $126,109 $24,935 $11,292 $16,591 $25,533 Second Quarter $21,525 $108,981 $26,279 $10,895 $14,890 $21,860 Third Quarter $55,662 $187,140 $36,576 $19,163 $43,314 $25,223 Fourth Quarter ($20,780 ) $24,409 $4,918 $3,575 ($5,170 ) $38,702 |
Summary Of Significant Accoun49
Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2016USD ($)$ / kWhshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Sep. 30, 2014USD ($) | ||
Income Tax Expense (Benefit) | $ (817,259) | $ (642,927) | $ 589,597 | ||||
Depreciation rates on average depreciable property | 2.80% | 2.90% | 2.80% | ||||
Depreciation rates on average depreciable utility property | 2.60% | 2.70% | 2.50% | ||||
Depreciation rates on average depreciable non-utility property | 5.20% | 5.40% | 5.50% | ||||
Accumulated depreciation of non-utility property | $ 169,000 | $ 164,000 | |||||
Construction expenditures in accounts payable | $ 253,000 | $ 234,000 | |||||
Options outstanding excluded from the calculation of diluted earnings per share | shares | 7,137,210 | 7,399,820 | 5,743,013 | ||||
Stock-based compensation plans award vesting period | 3 years | ||||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | shares | 0 | 0 | 300,000 | ||||
Asset Retirement Obligations, Noncurrent | $ 5,992,476 | $ 4,790,187 | |||||
Asset Write-Offs, Impairments, And Related Charges | 2,835,637 | 2,104,906 | $ 123,527 | ||||
Property, Plant and Equipment, Net | 233,641 | 219,999 | |||||
Asset Write-Offs, Impairments, And Related Charges | 2,835,637 | 2,104,906 | 179,752 | ||||
Decommissioning | 327,425 | 280,272 | 272,621 | ||||
Entergy Wholesale Commodities [Member] | |||||||
Income Tax Expense (Benefit) | [1] | (1,192,263) | (610,339) | 176,988 | |||
Asset Write-Offs, Impairments, And Related Charges | 2,800,000 | 2,000,000 | |||||
Asset Write-Offs, Impairments, And Related Charges | [1] | 2,835,637 | 2,036,234 | 107,527 | |||
Entergy Louisiana [Member] | |||||||
Income Tax Expense (Benefit) | $ 89,734 | $ 178,671 | $ 185,052 | ||||
Depreciation rates on average depreciable property | 2.30% | 2.30% | 2.20% | ||||
Accumulated depreciation of non-utility property | $ 154,400 | $ 150,100 | |||||
Construction expenditures in accounts payable | $ 114,800 | 68,600 | |||||
Percentage Interest in River Bend | 30.00% | ||||||
Portion of percentage of interest of River Bend plant costs, generation, revenues and expenses operating the Louisiana retail deregulated portion of River Bend | 15.00% | ||||||
Rate at which electricity sold to retail customers | $ / kWh | 0.046 | ||||||
Limit above which incremental revenue shared between ratepayers and shareholders | $ / kWh | 0.046 | ||||||
Asset Retirement Obligations, Noncurrent | $ 1,082,685 | 1,027,862 | |||||
Property, Plant and Equipment, Net | 217,494 | 206,293 | |||||
Asset Write-Offs, Impairments, And Related Charges | $ 16,000 | ||||||
Decommissioning | 46,944 | 43,445 | $ 41,493 | ||||
Entergy Texas [Member] | |||||||
Income Tax Expense (Benefit) | $ 63,097 | $ 37,250 | $ 49,644 | ||||
Depreciation rates on average depreciable property | 2.50% | 2.60% | 2.50% | ||||
Accumulated depreciation of non-utility property | $ 4,900 | $ 4,900 | |||||
Construction expenditures in accounts payable | 9,300 | 33,100 | |||||
Asset Retirement Obligations, Noncurrent | 6,470 | 6,124 | |||||
After-Tax Asset Impairment Charge | 15,300 | ||||||
Property, Plant and Equipment, Net | 376 | 376 | |||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 23,472 | $ 0 | ||||
Entergy Arkansas [Member] | |||||||
Income Tax Expense (Benefit) | $ 107,773 | $ 40,541 | $ 83,629 | ||||
Depreciation rates on average depreciable property | 2.50% | 2.60% | 2.40% | ||||
Construction expenditures in accounts payable | $ 40,900 | $ 43,000 | |||||
Asset Retirement Obligations, Noncurrent | 924,353 | 872,346 | |||||
Decommissioning | 53,610 | 50,414 | $ 46,972 | ||||
Entergy Mississippi [Member] | |||||||
Income Tax Expense (Benefit) | $ 63,854 | $ 61,872 | $ 55,710 | ||||
Depreciation rates on average depreciable property | 3.10% | 3.20% | 2.60% | ||||
Accumulated depreciation of non-utility property | $ 500 | $ 500 | |||||
Construction expenditures in accounts payable | 11,500 | 11,400 | |||||
Asset Retirement Obligations, Noncurrent | 8,722 | 8,252 | |||||
Property, Plant and Equipment, Net | 4,608 | 4,625 | |||||
Entergy New Orleans [Member] | |||||||
Income Tax Expense (Benefit) | $ 28,705 | $ 25,190 | $ 13,450 | ||||
Purchase price of net assets that support Algiers customers | $ 85,000 | ||||||
Depreciation rates on average depreciable property | 3.40% | 3.00% | 3.20% | ||||
Construction expenditures in accounts payable | $ 2,300 | $ 1,500 | |||||
Asset Retirement Obligations, Noncurrent | 2,875 | 2,687 | |||||
Property, Plant and Equipment, Net | 1,016 | 1,016 | |||||
Payable due Entergy Louisiana | 25,500 | ||||||
System Energy [Member] | |||||||
Income Tax Expense (Benefit) | $ 71,061 | $ 53,077 | $ 83,310 | ||||
Depreciation rates on average depreciable property | 2.80% | 2.80% | 3.00% | ||||
Construction expenditures in accounts payable | $ 6,200 | $ 6,800 | |||||
Asset Retirement Obligations, Noncurrent | 854,202 | 803,405 | |||||
Decommissioning | $ 50,797 | 47,993 | $ 41,835 | ||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | |||||||
Increase in decommissioning liability | $ 101,600 | ||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||
Carrying Value of Nuclear Plant | 742,000 | ||||||
Asset Impairment Charges | 48,000 | ||||||
After-Tax Asset Impairment Charge | 624,000 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 713,000 | ||||||
Assets, Fair Value Disclosure | 29,000 | ||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 335,000 | ||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost After Impairment | 131,000 | ||||||
Change in Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 204,000 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 965,000 | ||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||
Carrying Value of Nuclear Plant | 718,000 | ||||||
Asset Impairment Charges | 24,000 | ||||||
After-Tax Asset Impairment Charge | 438,000 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 653,000 | ||||||
Assets, Fair Value Disclosure | 65,000 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 677,000 | ||||||
Decommissioning | $ 134,000 | ||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||
Increase in decommissioning liability | 42,000 | ||||||
Carrying Value of Nuclear Plant | 859,000 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 396,000 | ||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | 256,000 | ||||||
Assets, Fair Value Disclosure | $ 463,000 | ||||||
[1] | 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. |
Summary Of Significant Accoun50
Summary Of Significant Accounting Policies (Schedule Of Net Property, Plant, And Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | $ 5,226,000 | $ 4,431,000 |
Distribution | 7,648,000 | 7,207,000 |
Other | 1,636,000 | 1,536,000 |
Construction work in progress | 1,378,180 | 1,456,735 |
Nuclear fuel | 1,038,000 | 1,345,000 |
Property, plant and equipment - net | 27,921,407 | 27,824,361 |
Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 1,491,000 | 1,223,000 |
Distribution | 2,144,000 | 1,997,000 |
Other | 216,000 | 179,000 |
Construction work in progress | 304,073 | 388,075 |
Nuclear fuel | 307,000 | 286,000 |
Property, plant and equipment - net | 6,464,316 | 5,862,253 |
Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 1,925,000 | 1,693,000 |
Distribution | 2,632,000 | 2,488,000 |
Other | 517,000 | 483,000 |
Construction work in progress | 670,201 | 420,874 |
Nuclear fuel | 250,000 | 387,000 |
Property, plant and equipment - net | 11,499,760 | 10,634,467 |
Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 740,000 | 658,000 |
Distribution | 1,242,000 | 1,166,000 |
Other | 201,000 | 199,000 |
Construction work in progress | 118,182 | 114,067 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 2,838,275 | 2,666,420 |
Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 79,000 | 65,000 |
Distribution | 414,000 | 400,000 |
Other | 188,000 | 184,000 |
Construction work in progress | 24,975 | 29,027 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 919,492 | 664,965 |
Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 943,000 | 723,000 |
Distribution | 1,216,000 | 1,156,000 |
Other | 106,000 | 104,000 |
Construction work in progress | 111,227 | 210,964 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 2,859,239 | 2,656,535 |
System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 45,000 | 46,000 |
Distribution | 0 | 0 |
Other | 25,000 | 17,000 |
Construction work in progress | 43,888 | 92,546 |
Nuclear fuel | 260,000 | 184,000 |
Property, plant and equipment - net | 2,157,026 | 2,143,386 |
Utility Plants [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 5,223,000 | 4,408,000 |
Distribution | 7,648,000 | 7,207,000 |
Other | 1,521,000 | 1,422,000 |
Construction work in progress | 1,334,000 | 1,327,000 |
Nuclear fuel | 817,000 | 857,000 |
Property, plant and equipment - net | 27,067,000 | 24,954,000 |
Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 3,000 | 23,000 |
Distribution | 0 | 0 |
Other | 111,000 | 111,000 |
Construction work in progress | 44,000 | 130,000 |
Nuclear fuel | 221,000 | 489,000 |
Property, plant and equipment - net | 850,000 | 2,868,000 |
Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 0 | 0 |
Distribution | 0 | 0 |
Other | 4,000 | 3,000 |
Construction work in progress | 0 | 0 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 4,000 | 3,000 |
Nuclear Plant [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 6,948,000 | 8,672,000 |
Nuclear Plant [Member] | Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 1,201,000 | 1,192,000 |
Nuclear Plant [Member] | Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 3,540,000 | 3,611,000 |
Nuclear Plant [Member] | Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Nuclear Plant [Member] | Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Nuclear Plant [Member] | Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Nuclear Plant [Member] | System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 1,783,000 | 1,803,000 |
Nuclear Plant [Member] | Utility Plants [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 6,524,000 | 6,606,000 |
Nuclear Plant [Member] | Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 424,000 | 2,066,000 |
Nuclear Plant [Member] | Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Other Plant In Service [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 4,047,000 | 3,176,000 |
Other Plant In Service [Member] | Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 801,000 | 597,000 |
Other Plant In Service [Member] | Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 1,966,000 | 1,551,000 |
Other Plant In Service [Member] | Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 537,000 | 529,000 |
Other Plant In Service [Member] | Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 213,000 | (13,000) |
Other Plant In Service [Member] | Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 483,000 | 463,000 |
Other Plant In Service [Member] | System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Other Plant In Service [Member] | Utility Plants [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 4,000,000 | 3,127,000 |
Other Plant In Service [Member] | Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 47,000 | 49,000 |
Other Plant In Service [Member] | Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | $ 0 | $ 0 |
Summary Of Significant Accoun51
Summary Of Significant Accounting Policies (Schedule Of Depreciation Rates On Average Depreciable Property) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation rates on average depreciable property | 2.80% | 2.90% | 2.80% |
Entergy Arkansas [Member] | |||
Depreciation rates on average depreciable property | 2.50% | 2.60% | 2.40% |
Entergy Louisiana [Member] | |||
Depreciation rates on average depreciable property | 2.30% | 2.30% | 2.20% |
Entergy Mississippi [Member] | |||
Depreciation rates on average depreciable property | 3.10% | 3.20% | 2.60% |
Entergy New Orleans [Member] | |||
Depreciation rates on average depreciable property | 3.40% | 3.00% | 3.20% |
Entergy Texas [Member] | |||
Depreciation rates on average depreciable property | 2.50% | 2.60% | 2.50% |
System Energy [Member] | |||
Depreciation rates on average depreciable property | 2.80% | 2.80% | 3.00% |
Summary Of Significant Accoun52
Summary Of Significant Accounting Policies (Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)MW | |
Independence Unit 1 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 839 |
Ownership | 31.50% |
Investment | $ 134 |
Accumulated Depreciation | $ 103 |
Independence Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 15.75% |
Investment | $ 34 |
Accumulated Depreciation | $ 27 |
Independence Common Facilities [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 7.18% |
Investment | $ 16 |
Accumulated Depreciation | $ 12 |
White Bluff Units 1 And 2 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 1,635 |
Ownership | 57.00% |
Investment | $ 521 |
Accumulated Depreciation | $ 365 |
Ouachita Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Total Megawatt Capability | MW | 493 |
Ownership | 66.67% |
Investment | $ 172 |
Accumulated Depreciation | $ 148 |
Ouachita Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Total Megawatt Capability | MW | 248 |
Ownership | 33.33% |
Investment | $ 90 |
Accumulated Depreciation | $ 75 |
Roy S. Nelson Unit 6 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 550 |
Ownership | 40.25% |
Investment | $ 277 |
Accumulated Depreciation | $ 189 |
Roy S. Nelson Unit 6 [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 550 |
Ownership | 29.75% |
Investment | $ 198 |
Accumulated Depreciation | $ 113 |
Roy S. Nelson Unit 6 [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 550 |
Ownership | 10.90% |
Investment | $ 112 |
Accumulated Depreciation | $ 60 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 18.65% |
Investment | $ 14 |
Accumulated Depreciation | $ 6 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 13.79% |
Investment | $ 6 |
Accumulated Depreciation | $ 2 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 5.05% |
Investment | $ 2 |
Accumulated Depreciation | $ 1 |
Big Cajun 2 Unit 3 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 588 |
Ownership | 24.15% |
Investment | $ 150 |
Accumulated Depreciation | $ 113 |
Big Cajun 2 Unit 3 [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 588 |
Ownership | 17.85% |
Investment | $ 113 |
Accumulated Depreciation | $ 74 |
Big Cajun 2 Unit 3 Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 8.05% |
Investment | $ 5 |
Accumulated Depreciation | $ 2 |
Big Cajun 2 Unit 3 Common Facilities [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 5.95% |
Investment | $ 3 |
Accumulated Depreciation | $ 1 |
Acadia Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Total Megawatt Capability | MW | 557 |
Ownership | 50.00% |
Investment | $ 19 |
Accumulated Depreciation | $ 0 |
Independence Units 1 And 2 And Common Facilities [Member] | Entergy Mississippi [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 1,681 |
Ownership | 25.00% |
Investment | $ 257 |
Accumulated Depreciation | $ 155 |
Grand Gulf Unit 1 [Member] | System Energy [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Nuclear |
Total Megawatt Capability | MW | 1,401 |
Ownership | 90.00% |
Investment | $ 4,917 |
Accumulated Depreciation | $ 3,063 |
Independence Unit 2 [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 842 |
Ownership | 14.37% |
Investment | $ 71 |
Accumulated Depreciation | $ 49 |
Ouachita Units 1 and 2 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Ouachita Unit 3 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Union Units 1 and 2 Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 1 |
Accumulated Depreciation | $ 0 |
Union Units 1 and 2 Common Facilities [Member] | Entergy New Orleans [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 1 |
Accumulated Depreciation | $ 0 |
Union Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 25.00% |
Investment | $ 25 |
Accumulated Depreciation | $ 1 |
Union Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 50 |
Accumulated Depreciation | $ 1 |
Union Common Facilities [Member] | Entergy New Orleans [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 25.00% |
Investment | $ 25 |
Accumulated Depreciation | $ 1 |
Union Unit 1 [Member] | Entergy New Orleans [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Union Unit 2 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Union Units 3 and 4 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Summary Of Significant Accoun53
Summary Of Significant Accounting Policies (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Basic earnings per share | |||||||||||
Net income (loss) attributable to Entergy Corporation | $ (1,769,068) | $ 388,170 | $ 567,314 | $ 229,966 | $ 99,573 | $ (723,027) | $ 148,843 | $ 298,050 | $ (583,618) | $ (176,562) | $ 940,721 |
Net Income Attributable to Entergy Corporation, Shares | 178,885,660 | 179,176,356 | 179,506,151 | ||||||||
Basic earnings per share (in usd per share) | $ (9.89) | $ 2.17 | $ 3.17 | $ 1.29 | $ 0.56 | $ (4.04) | $ 0.83 | $ 1.66 | $ (3.26) | $ (0.99) | $ 5.24 |
Average dilutive effect of: | |||||||||||
Stock options, Shares | 0 | 0 | 300,000 | ||||||||
Stock options $/share | $ 0 | $ 0 | $ (0.01) | ||||||||
Equity units, Income | $ 0 | $ 0 | $ 500 | ||||||||
Average Dilutive Effect of Other Equity Plans Per Share | $ 0 | $ 0 | $ (0.01) | ||||||||
Diluted earnings per share, Shares | 178,885,660 | 179,176,356 | 180,296,885 | ||||||||
Diluted earnings per share (in usd per share) | $ (9.86) | $ 2.16 | $ 3.16 | $ 1.28 | $ 0.56 | $ (4.04) | $ 0.83 | $ 1.65 | $ (3.26) | $ (0.99) | $ 5.22 |
Summary Of Significant Accoun54
Summary Of Significant Accounting Policies (Significant Unobservable Inputs in Asset Valuation) (Details) | Dec. 31, 2016 | Dec. 31, 2015 |
Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.90% | |
Operating Margin Used In Asset Valuation | 8.10% | |
Pilgrim [Member] | Minimum [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 2.40% | |
Pilgrim [Member] | Maximum [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 8.00% | |
Operating Margin Used In Asset Valuation | 10.60% | |
FitzPatrick [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 10.20% | |
Palisades [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 6.50% | 7.50% |
Operating Margin Used In Asset Valuation | 34.60% | 30.80% |
Palisades [Member] | Minimum [Member] | ||
Operating Margin Used In Asset Valuation | 17.80% | |
Palisades [Member] | Maximum [Member] | ||
Operating Margin Used In Asset Valuation | 38.80% |
Rate And Regulatory Matters (Na
Rate And Regulatory Matters (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 20 Months Ended | 36 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Nov. 30, 2016USD ($) | Oct. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jul. 31, 2016USD ($) | Jun. 30, 2016USD ($) | May 31, 2016USD ($) | Apr. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Feb. 29, 2016USD ($) | Jan. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Nov. 30, 2015USD ($) | Sep. 30, 2015USD ($) | Aug. 31, 2015USD ($) | Jul. 31, 2015USD ($) | May 31, 2015USD ($) | Apr. 30, 2015USD ($) | Feb. 28, 2015USD ($) | Jan. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Oct. 31, 2014USD ($) | Sep. 30, 2014USD ($) | Aug. 31, 2014USD ($)$ / unitshares | Jul. 31, 2014USD ($) | Jun. 30, 2014USD ($) | May 31, 2014USD ($)$ / unit | Apr. 30, 2014USD ($) | Jan. 31, 2014USD ($) | Dec. 31, 2013USD ($) | Oct. 31, 2013USD ($) | Sep. 30, 2013USD ($) | Aug. 30, 2013 | Jul. 31, 2013USD ($) | Apr. 30, 2013USD ($) | Mar. 31, 2013USD ($) | Feb. 28, 2013USD ($) | Jan. 31, 2013USD ($)party | Dec. 31, 2012USD ($) | Nov. 30, 2012 | Sep. 30, 2012USD ($) | Jul. 31, 2012USD ($) | Apr. 30, 2012USD ($) | Feb. 29, 2012USD ($)shares | Nov. 30, 2011USD ($) | Oct. 31, 2011USD ($)issue | Jul. 31, 2010USD ($)$ / unitshares | Jun. 30, 2010USD ($) | Dec. 31, 2009USD ($) | Aug. 31, 2008USD ($)$ / unitshares | Jul. 31, 2008USD ($)shares | Apr. 30, 2008 | Apr. 30, 2007USD ($) | Jan. 31, 2007 | Jun. 30, 2005 | Aug. 31, 2003USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2008USD ($) | Dec. 31, 2005outage | May 02, 2003 | Mar. 31, 2016USD ($) | Mar. 31, 2014USD ($) | Apr. 30, 2010USD ($) | Aug. 26, 2008USD ($) | Jul. 29, 2008USD ($) | ||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 2,835,637,000 | $ 2,104,906,000 | $ 123,527,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | (949,329,000) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,835,637,000 | 2,104,906,000 | 179,752,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Write-Off of Waterford 3 Replacement Steam Generator | $ 77,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Potential cost for Entergy Arkansas for years 2003, 2004, and 2006 based on intra-system bills | $ 12,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | $ 4,769,913,000 | 4,704,796,000 | $ 4,704,796,000 | 4,769,913,000 | 4,704,796,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period to File Briefs | 30 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period to File Reply Briefs | 21 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 3,296,711,000 | 3,354,981,000 | 3,310,536,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | (1,381,762,000) | (799,661,000) | 1,549,854,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 108,465,000 | 0 | 0 | $ 108,465,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period of Prohibited Refunds | 20 months | 20 months | 20 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Issues D.C. Circuit Ordered to Remand | issue | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decrease in estimated costs at completion for Ninemile 6 project | $ 76,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Included in Formula Rate Plan | $ 35,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan for reduction in MISO cost recovery mechanism | 5,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond proceeds loaned by LCDA to LURC under Louisiana Act 55 financing | $ 309,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual customer credits | $ 6,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LCDA issuance of bonds under Louisiana Act 55 financing | 314,850,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfered to restricted escrow account as storm damage reserve | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Elimination of the Interruptible Load Period | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period Prior to Billing, Recovery of Electric Fuel and Purchased Power Costs | 2 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario revenue offset | $ 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request sharing mechanism company | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Period | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request sharing mechanism customers | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario common equity basis point range | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario midpoint return on common equity | 10.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario authorized return on common equity | 10.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario revenue increase authorization | $ 145,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | $ (474,670,000) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Storm restoration costs deemed prudently incurred - Hurricane Isaac | 290,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested Replenishment of Storm Escrow Accounts Hurricane Issac | $ 290,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.07% | 9.95% | 8.13% | 10.40% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Recovery Through Rider Revenues | $ 915,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Period | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings bandwidth, basis points within bandwidth | 0.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 9,300,000 | $ 10,000,000 | $ 5,560,000 | $ 13,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Through MISO Recovery Rider | $ 853,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Period | 4 years | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to decrease additional capacity mechanism | $ 17,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase value to reflect special formula rate plan rate implementation adjustment | 41,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Project and Replacement Power Cost Disallowances | 2,000,000 | $ 71,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Charges Related to Waterford 3 Steam Generator Project | 77,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intervenor Recommended Project and Replacement Power Cost Disallowances | $ 141,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Disallowance of Capital Costs | 67,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Write-Off of Waterford 3 Replacement Steam Generator | 45,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Charge Recorded Due to Probability of Non-Recovery Per ALJ Recommendation | 32,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Revenue Requirement Implemented for Ninemile 6 | 51,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated costs at completion for Ninemile 6 project | 648,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund To Customers | 71,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to Customers Credited Through Formula Rate Plan | 68,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.09% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Per LPSC, the amount of damages to be paid by Entergy Arkansas to the Utility Operating Companies | $ 7,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 1,168,058,000 | 1,217,874,000 | 1,217,874,000 | 1,168,058,000 | 1,217,874,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | $ 148,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 923,779,000 | 997,546,000 | 907,308,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ 711,781,000 | 625,310,000 | 631,074,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to customers per LPSC Staff January 2013 audit report | $ 1,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realignment of the recovery from Entergy Louisiana's fuel adjustment clause to base rates per LPSC January 2013 audit report | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Parties That Intervened in LPSC Proceeding | party | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Included in Legacy Formula Rate Plan | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowed Maximum Deferred External Costs Associated with Business Combination | 25,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred External Costs Associated with Business Combination | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum customer benefits | $ 30,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond proceeds transfered to company under Louisiana Act 55 financing | 293,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | 474,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Customer Benefits Anticipated with Business Combination | $ 128,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed Guaranteed Savings Projected for Business Combination | 97,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Customer Benefits Anticipated with Business Combination Per Stipulated Settlement with LPSC | 107,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Upper Limit on Rates | 30,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC staff recommended fuel adjustment clause refund including interest | 3,000,000 | 8,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Previously Recorded Provision For Refund to Customers Due to Waterford 3 Steam Generator Project Settlement | 48,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Charge Due to Waterford 3 Steam Generator Project Settlement | 23,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC previously recommended disallowance of portion of refund to customers | $ 3,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to decrease Legacy Entergy Gulf States Louisiana revenues due to effect of system agreement termination | $ 58,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan for increase in MISO cost recovery mechanism | 11,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Net benefit to Customers Anticipated with AMI Deployment | $ 607,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | 92,000,000 | 92,000,000 | 92,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase Legacy Entergy Louisiana additional capacity mechanism | 14,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase Legacy Entergy Louisiana revenues due to effects of system agreement termination | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase Legacy Entergy Gulf States Louisiana additional capacity mechanism | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum amount of benefits committed to pass on to the customers | $ 40,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prospective Annual rate reductions for five years | 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond issued by LCDA | $ 687,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfer to restricted escrow account as storm damage reserve by corporation | $ 152,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Transferred to Entergy Louisiana | 527,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | 679,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount used to acquire membership interest units in wholly owned Subsidiary | $ 545,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 5,449,861.85 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount withdrawn from restricted escrow account as approved by units of wholly owned subsidiary | $ 17,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Gustav and Ike [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total recoverable costs | $ 628,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecoverable storm cost charged to earning | 11,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Replenishment amount for storm reserve spending | $ 290,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum amount of benefits committed to pass on to the customers | $ 43,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prospective Annual rate reductions for five years | $ 8,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond issued by LCDA | $ 713,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfer to restricted escrow account as storm damage reserve by corporation | 290,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Transferred to Entergy Louisiana | 412,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | 702,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount used to acquire membership interest units in wholly owned Subsidiary | $ 412,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 4,126,940.15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 9.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation price per unit | $ / unit | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net worth required under terms of membership interest | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Included in Formula Rate Plan | $ 19,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested Rate Increase Including New Depreciation Rates | $ 30,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MPSC authorized deferral of other operation and maintenance expenses | $ 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.07% | 10.59% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in expenses to be collected through ad valorem tax adjustment rider | $ 4,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Return on Equity, Percentage | 10.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in Annual Funding for Storm Reserve | $ 1,750,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized Storm Damage Reserve Balance | 15,000,000 | $ 15,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance At Which Storm Damage Accrual Will Return To Current Level | $ 10,000,000 | $ 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Upper limit not exceeded for storm accrual balance | $ 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Per LPSC, the amount of damages to be paid by Entergy Arkansas to the Utility Operating Companies | 23,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 342,213,000 | 328,681,000 | 328,681,000 | 342,213,000 | 328,681,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Storm Restoration Costs Incurred Hurricane Isaac | 32,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Storm Restoration Costs Incurred That Are Recoverable Through Formula Rate Plan Hurricane Isaac | 700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Storm Reserve Accrual Hurricane Isaac | 0 | $ 0 | $ 750,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 250,443,000 | 261,255,000 | 256,339,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost incurred in planning evaluation and monitoring | $ 57,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Write-Off Of Regulatory Asset For New Nuclear | 0 | 0 | 56,225,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 173,038,000 | 154,580,000 | 130,531,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 6,957,000 | 0 | 0 | $ 6,957,000 | 0 | $ 60,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas Cost | $ / unit | 4.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 32,600,000 | $ 49,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in revenues per joint stipulation entered into with MPSC | $ 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Over-Recovery Balance | $ 58,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Under-Recovery Under Power Management Rider | 12,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Over-Recovery of Rider Revenues | $ 48,000,000 | 46,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Over-Recovery Energy Cost Recovery Rider | 2,000,000 | $ 68,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated nominal benefit to Customers Anticipated with AMI Deployment | 496,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Net benefit to Customers Anticipated with AMI Deployment | 183,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | 56,000,000 | 56,000,000 | 56,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 32,600,000 | $ 49,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 23,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Gulf States Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Power blocks | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase additional capacity mechanism | $ 4,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request sharing mechanism company | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request sharing mechanism customers | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario common equity basis point range | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario midpoint return on common equity | 10.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan extension request MISO Only scenario revenue increase authorization | $ 24,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Recovery Through Rider Revenues | $ 65,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to rider revenue requirement required if earnings exceed stated rate | 10.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Adherence to a Specified Spending Plan | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual Versus Planned Rider Spending Variance | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 706,000 | $ 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized return on common equity | 7.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase value to reflect special formula rate plan rate implementation adjustment | 5,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Revenue Requirement Implemented for Ninemile 6 | $ 26,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Per LPSC, the amount of damages to be paid by Entergy Arkansas to the Utility Operating Companies | 42,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A preferred membership units sold to third party | shares | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds From Sale of Preferred Membership Units | $ 51,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Charges Above Prevailing Market Prices | $ 57,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Low Damages Range In Texas Lawsuit | 153,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
High Damages Range in Texas Lawsuit | $ 972,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 7.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in revenues per joint stipulation entered into with MPSC | $ 688,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Base Purchase Price Union Power Station Power Block | $ 237,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC staff recommended fuel adjustment clause refund including interest | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of LPSC Recommended Realignment of Fuel Cost Recovery to Base Rates | 12,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Gulf States Louisiana [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond issued by LCDA | $ 278,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfer to restricted escrow account as storm damage reserve by corporation | $ 87,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Transferred to Entergy Louisiana | 187,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | 274,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount used to acquire membership interest units in wholly owned Subsidiary | $ 189,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 1,893,918.39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation price per unit | $ / unit | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net worth required under terms of membership interest | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount withdrawn from restricted escrow account as approved by units of wholly owned subsidiary | $ 1,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | $ (237,335,000) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Contract for Purchase of Electric Power, Share of Plant Output Being Purchased | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount included in electric rates per year to fund the smart energy efficiency programs as per rate case settlement | $ 3,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Smart Program Costs | 1,200,000 | $ 3,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Smart 2 Project Costs | 12,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Per LPSC, the amount of damages to be paid by Entergy Arkansas to the Utility Operating Companies | $ 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing order authorized to issue storm cost recovery bonds | 98,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Hurricane Issac storm cost to be recovered through securitization | 31,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Replenishment amount for storm reserve spending | 63,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 268,106,000 | 265,322,000 | 265,322,000 | 268,106,000 | 265,322,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount authorized for storm reserve | 75,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 117,471,000 | 119,087,000 | 131,549,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 77,554,000 | 70,115,000 | 44,480,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 4,818,000 | 0 | 0 | 4,818,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price of net assets that support Algiers customers | 85,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment of long-term payable due to Entergy Louisiana | (4,973,000) | (59,610,000) | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payable due Entergy Louisiana | 25,500,000 | 25,500,000 | 25,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hurricane Isaac Storm Restoration Costs Approved as Recoverable from Electric Customers | 31,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIty Council authorized cap to fuel adjustment charge billed to customer | 0.035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Base Purchase Price Union Power Station Power Block | $ 237,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized monthly customer credits | $ 400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | 237,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly customer credits | $ 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Net benefit to Customers Anticipated with AMI Deployment | $ 101,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | 21,000,000 | 21,000,000 | 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed annual customer credits | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Preferred Equity | 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Call Premium on Preferred Stock | 819,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Under-recovered fuel balance | $ 8,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Payments | $ 10,900,000 | 15,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Request filed for refund of fuel cost recovery over collections | $ 24,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.80% | 9.20% | 10.40% | 10.60% | 9.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested increase in retail revenues per request for annual distribution cost recovery factor rider | 6,500,000 | $ 7,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Recovery Through Rider Revenues | 8.65 | $ 3,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Case Filing Request To Reconcile Fuel and Purchased Power Costs and Fuel Revenues | $ 900,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Case Filing Request Special Circumstances Fuel Cost Recovery Of Purchased Power Costs | 22,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate reduction | $ 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 18,500,000 | 38,600,000 | $ 28,000,000 | $ 18,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase In Base Rate Reflecting Return On Common Equity | $ 112,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 23,472,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
After-Tax Asset Impairment Charge | 15,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund To Customers | $ 68,000,000 | 56,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended Increase in Rate Base | $ 66,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revised Increase In Rate Base Request | $ 105,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Collected From Customers | 29,500,000 | 10,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MISO transition expenses in base rates per PUCT | $ 1,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction of fuel reconciliation recovery due to disagreement with line loss factor in calculation per PUCT | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory charge recorded due to probability of non-recovery per PUCT order | $ 24,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 740,156,000 | $ 812,862,000 | 812,862,000 | 740,156,000 | 812,862,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 220,566,000 | 254,731,000 | 232,955,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ 170,635,000 | 106,875,000 | 124,448,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 13,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Receipts | $ 48,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in approved retail rate increase | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intervenor Recommended Disallowance Due to Load Growth Adjustment | $ 3,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund for fuel cost recovery | 41,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Refund Related to Calendar Year 2006-2008 Production Costs | $ 3,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jurisdictional eligible fuel and purchased power expenses, net of credits | $ 1,770,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated deferred fuel over recovery balance for reconciliation period | 19,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unspecific disallowance associated with settlement agreement | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Over-Recovery Balance | $ 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 13,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 10,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized collection through TCRF rider | 29,500,000 | 10,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Texas [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing order authorized to issue storm cost recovery bonds | $ 353,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period in which deferred cost balance is paid | 7 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period in which costs are collected from customer | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redetermination Of Production Cost Allocation Rider Unrecovered Retail Balance | 1,900,000 | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Payments | $ 38,000,000 | $ 67,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Cost Allocation Rider Under-recovered Retail Balance Approved for Recovery | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Payments Approved for Recovery | $ 1,900,000 | 67,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Cost Recovery Rider, Energy Cost Rate, Costs and Expected Sales, Period | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Outages | outage | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Response Period For Analysis to Determine Additional Fuel and Purchased Energy Costs | 60 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Incremental Fuel and Replacement Energy Costs | $ 65,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | $ (237,323,000) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC filing requested rate increase transition to MISO scenario | $ 145,000,000 | $ 174,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC filing requested revenue transfer from collection in riders to base rates MISO scenario | $ 49,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.75% | 10.20% | 9.30% | 10.40% | 10.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Return on Equity, Percentage | 9.50% | 9.30% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC Filing Authorized Rate Increase Transition to MISO Scenario | $ 81,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis Point Bandwidth | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 225,000,000 | $ 268,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Collected From Customers | $ 156,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Potential cost for Entergy Arkansas for years 2003, 2004, and 2006 based on intra-system bills | $ 2,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction In Amount Of Damages That Should Be Paid By Entergy Arkansas To Utility Operating Companies | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 1,428,029,000 | 1,333,773,000 | 1,333,773,000 | 1,428,029,000 | 1,333,773,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 706,573,000 | 734,118,000 | 647,461,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 274,985,000 | 114,813,000 | 205,021,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 96,690,000 | 0 | 0 | 96,690,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 67,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Cost Allocation Rider Adjustment Collection Period | 22 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Total Hurricane Isaac Storm Restoration Costs | $ 49,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in revenues per joint stipulation entered into with MPSC | 133,000,000 | $ 167,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC and Intervener Recommended Revenue Requirement | $ 217,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC and Intervener Recommended Return on Equity | 9.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 4,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in approved retail rate increase | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post-Fukushima Compliance Costs | 7,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flood Barrier Compliance Costs | 9,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interim Base Rate Adjustment Surcharge Recovery | 21,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Increase in Revenue Requirement | $ 54,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of Approved Revenue Requirement Increase Subject to Possible Future Adjustment and Refund to Customers | 25,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 57,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 67,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments from utility operating companies as percentage of average production cost | 11.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 411,212,000 | 347,830,000 | 347,830,000 | 411,212,000 | 347,830,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 153,064,000 | 156,552,000 | 156,502,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 167,805,000 | 164,395,000 | $ 179,644,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Holdings Company LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 2,935,152.69 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation price per unit | $ / unit | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net worth required under terms of membership interest | $ 1,750,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gas [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.22% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gas [Member] | Entergy Gulf States Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 5.47% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 1,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electric [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Period | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved MISO Only Scenario Midpoint Return On Common Equity | 9.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved MISO Only Scenario Common Equity Basis Point Range | 80.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved Sharing Mechanism Customers | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved Sharing Mechanism Company | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cumulative Cap on Cost of Service Increases | $ 30,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electric [Member] | Entergy Gulf States Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Period | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved MISO Only Scenario Midpoint Return On Common Equity | 9.95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved MISO Only Scenario Common Equity Basis Point Range | 80.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved Sharing Mechanism Customers | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula Rate Plan Extension Approved Sharing Mechanism Company | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Human Capital Management Costs [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 17,300,000 | 28,300,000 | 28,300,000 | 17,300,000 | 28,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Human Capital Management Costs [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 10,000,000 | 17,600,000 | 17,600,000 | 10,000,000 | 17,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Human Capital Management Costs [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [1] | 7,000,000 | 10,400,000 | 10,400,000 | 7,000,000 | 10,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Human Capital Management Costs [Member] | Electric [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Human Capital Management Costs [Member] | Electric [Member] | Entergy Gulf States Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear Generation Development Costs [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Asset, Noncurrent, Amortization Period | 8 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [1] | 43,100,000 | 50,400,000 | 50,400,000 | 43,100,000 | 50,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear Generation Development Costs [Member] | Electric [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 8 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear Generation Development Costs [Member] | Electric [Member] | Entergy Gulf States Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 8 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [2] | 677,200,000 | 589,100,000 | 589,100,000 | 677,200,000 | 589,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [2] | 199,400,000 | 180,800,000 | 180,800,000 | 199,400,000 | 180,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy Mississippi [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [2] | 7,200,000 | 6,700,000 | 6,700,000 | 7,200,000 | 6,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [2] | 4,200,000 | 4,000,000 | 4,000,000 | 4,200,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [2] | 322,900,000 | 288,000,000 | 288,000,000 | 322,900,000 | 288,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | [2] | $ 142,500,000 | $ 108,600,000 | $ 108,600,000 | $ 142,500,000 | $ 108,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Minimum [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 8.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Maximum [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 8.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Gas [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 6.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested Recovery of Previously Deferred Operation and Maintenance Expenses | $ 1,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Increase in Revenue Requirement | $ 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Does not earn a return on investment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Does not earn a return on investment, but is offset by related liabilities. |
Rate And Regulatory Matters (De
Rate And Regulatory Matters (Details Of Other Regulatory Assets Included In Entergy Corporation And Subsidiaries) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | $ 4,769,913 | $ 4,704,796 | |
Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 1,428,029 | 1,333,773 | |
Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 1,168,058 | 1,217,874 | |
Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 342,213 | 328,681 | |
Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 268,106 | 265,322 | |
Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 740,156 | 812,862 | |
System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 411,212 | 347,830 | |
Asset Retirement Obligation [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 677,200 | 589,100 |
Asset Retirement Obligation [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 322,900 | 288,000 |
Asset Retirement Obligation [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 199,400 | 180,800 |
Asset Retirement Obligation [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 7,200 | 6,700 |
Asset Retirement Obligation [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 4,200 | 4,000 |
Asset Retirement Obligation [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 142,500 | 108,600 |
New Nuclear Generation Development Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | 43,700 | 51,100 |
Pension And Post Retirement Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 2,635,500 | 2,574,900 |
Pension And Post Retirement Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 786,600 | 766,500 |
Pension And Post Retirement Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 715,700 | 718,700 |
Pension And Post Retirement Costs [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 217,200 | 216,100 |
Pension And Post Retirement Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 108,800 | 103,700 |
Pension And Post Retirement Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 201,700 | 193,600 |
Pension And Post Retirement Costs [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 193,500 | 178,000 |
Provision For Storm Damages, Including Hurricane Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 637,000 | 717,800 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 88,900 | 97,200 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 93,600 | 104,000 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 442,400 | 516,200 | |
Removal Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 353,900 | 273,300 |
Removal Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 128,500 | 85,700 |
Removal Costs [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 82,000 | 77,500 |
Removal Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 40,100 | 29,400 |
Removal Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 33,500 | 25,800 |
Removal Costs [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [1] | 69,700 | 54,800 |
River Bend AFUDC [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 14,800 | 16,700 | |
Business Combination External Costs Deferral [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | 15,200 | 16,100 |
Nuclear Generation Development Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | 43,100 | 50,400 |
Rate Case Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 3,000 | 3,200 | |
Rate Case Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | 500 | 3,800 |
Little Gypsy Cost Proceeding [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 100,000 | 121,100 | |
Little Gypsy Cost Proceeding [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 97,800 | 119,200 | |
Regulatory Clause Revenues, under-recovered [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 22,100 | 32,200 | |
Regulatory Clause Revenues, under-recovered [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 10,100 | 18,100 | |
Regulatory Clause Revenues, under-recovered [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 9,300 | 7,600 | |
Regulatory Clause Revenues, under-recovered [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 4,300 | 3,100 | |
Incremental Ice Storm Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 7,900 | 8,400 | |
Michoud Plant Maintenance [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 3,300 | 5,200 | |
Human Capital Management Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 17,300 | 28,300 | |
Human Capital Management Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | 7,000 | 10,400 |
Human Capital Management Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 10,000 | 17,600 | |
Lake Catherine 4 Reliability and Sustainability Cost Deferral [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | 9,800 | 10,400 |
Unamortized Loss on Reacquired Debt [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 91,400 | 66,700 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 27,600 | 23,000 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 27,000 | 19,200 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 18,900 | 7,100 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 3,400 | 1,600 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 9,000 | 9,400 | |
Unamortized Loss on Reacquired Debt [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 5,500 | 6,400 | |
Other [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 107,700 | 127,700 | |
Other [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 11,500 | 8,600 | |
Other [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 23,300 | 38,100 | |
Other [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 7,600 | 13,700 | |
Other [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 7,400 | 11,100 | |
Other [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 5,200 | 6,700 | |
Transition to Competition Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 47,900 | 57,400 | |
Transition to Competition Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 47,900 | 57,400 | |
MISO Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 36,200 | 65,200 | |
MISO Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | 11,100 | 17,500 |
MISO Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | 21,800 | 41,100 | |
ANO Fukushima and Flood Barrier costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Other Regulatory Assets | [2] | $ 16,100 | $ 0 |
[1] | Does not earn a return on investment, but is offset by related liabilities. | ||
[2] | Does not earn a return on investment. |
Rate And Regulatory Matters Rat
Rate And Regulatory Matters Rate and Regulatory Matters (Details of Other Regulatory Liabilities Included in Entergy Corporation and Subsidiaries) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 31, 2015 | |
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | $ 1,572,929 | $ 1,414,898 | $ 107,000 | |
Waterford 3 Steam Generator Replacement Cost Refund [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 68,000 | 31,700 | ||
Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 735,500 | 611,700 | |
Asset Retirement Obligation Costs [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 32,700 | 28,200 | |
Vidalia Purchased Power Agreement [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 202,400 | 222,600 | ||
Entergy Mississippi’s accumulated accelerated Grand Gulf amortization [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 39,300 | 46,400 | ||
Entergy Arkansas’s Accumulated Accelerated Grand Gulf Amortization [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 44,400 | 44,400 | ||
Other Regulatory Assets (Liabilities) [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 79,800 | 32,500 | ||
Removal Costs [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 53,900 | 68,300 | |
Grand Gulf Sale Leaseback [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 67,900 | 67,900 | ||
Louisiana Act 55 Financing Obligation [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 165,500 | 156,000 | ||
Business Combination Guaranteed Customer Benefits [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 83,500 | 105,200 | ||
Entergy Arkansas [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 305,907 | 242,913 | ||
Entergy Arkansas [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 280,800 | 236,100 | |
Entergy Arkansas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 25,100 | 6,800 | ||
Entergy Louisiana [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 880,974 | 818,623 | ||
Entergy Louisiana [Member] | Waterford 3 Steam Generator Replacement Cost Refund [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 68,000 | 31,700 | ||
Entergy Louisiana [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 235,400 | 196,900 | |
Entergy Louisiana [Member] | Asset Retirement Obligation Costs [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 32,700 | 28,200 | |
Entergy Louisiana [Member] | Vidalia Purchased Power Agreement [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 202,400 | 222,600 | ||
Entergy Louisiana [Member] | Other Regulatory Assets (Liabilities) [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 28,700 | 9,700 | ||
Entergy Louisiana [Member] | Removal Costs [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 53,900 | 68,300 | |
Entergy Louisiana [Member] | Louisiana Act 55 Financing Obligation [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 165,500 | 156,000 | ||
Entergy Louisiana [Member] | Business Combination Guaranteed Customer Benefits [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 83,500 | 105,200 | ||
Entergy Louisiana [Member] | Gas Hedging Costs [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 10,900 | 0 | ||
Entergy Texas [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 8,502 | 6,396 | ||
Entergy Texas [Member] | Transition to Competition Costs [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 6,200 | 6,400 | ||
Entergy Texas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 2,300 | 0 | ||
System Energy [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 370,862 | 337,424 | ||
System Energy [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | [1] | 219,300 | 178,700 | |
System Energy [Member] | Entergy Mississippi’s accumulated accelerated Grand Gulf amortization [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 39,300 | 46,400 | ||
System Energy [Member] | Entergy Arkansas’s Accumulated Accelerated Grand Gulf Amortization [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | 44,400 | 44,400 | ||
System Energy [Member] | Grand Gulf Sale Leaseback [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory Liability, Noncurrent | $ 67,900 | $ 67,900 | ||
[1] | (a)Offset by related asset. |
Rate And Regulatory Matters (Fu
Rate And Regulatory Matters (Fuel And Purchased Power Cost Recovery) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other Regulatory Assets | $ 4,769,913 | $ 4,704,796 |
Entergy Arkansas [Member] | ||
Deferred fuel costs | 163,600 | 57,800 |
Other Regulatory Assets | 1,428,029 | 1,333,773 |
Deferred fuel cost noncurrent | 66,900 | 66,700 |
Entergy Louisiana [Member] | ||
Deferred fuel costs | 119,900 | 102,900 |
Other Regulatory Assets | 1,168,058 | 1,217,874 |
Deferred fuel cost noncurrent | 168,100 | 168,100 |
Entergy Mississippi [Member] | ||
Deferred fuel costs | 7,000 | (107,800) |
Other Regulatory Assets | 342,213 | 328,681 |
Entergy New Orleans [Member] | ||
Deferred fuel costs | 8,900 | (24,900) |
Other Regulatory Assets | 268,106 | 265,322 |
Deferred fuel cost noncurrent | 4,100 | 4,100 |
Entergy Texas [Member] | ||
Deferred fuel costs | (54,500) | (25,100) |
Other Regulatory Assets | $ 740,156 | $ 812,862 |
Rate And Regulatory Matters (Pa
Rate And Regulatory Matters (Payments/Receipts Among The Utility Operating Companies) (Details) - USD ($) $ in Millions | 1 Months Ended | ||||||||||
May 31, 2014 | Dec. 31, 2011 | Feb. 29, 2016 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | |
Entergy Arkansas [Member] | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | $ 68 | $ 156 | |||||||||
Payments (receipts) based on production costs | 77 | $ 2 | $ 0 | $ 38 | $ 0 | $ 41 | $ 41 | $ 390 | $ 252 | $ 252 | |
Entergy Louisiana [Member] | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | (10) | (75) | |||||||||
Payments (receipts) based on production costs | (12) | 6 | 0 | (38) | 0 | (41) | (22) | (247) | (160) | (211) | |
Entergy Mississippi [Member] | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | (11) | (33) | |||||||||
Payments (receipts) based on production costs | (40) | (4) | 0 | 16 | 0 | 0 | (19) | (24) | (20) | (41) | |
Entergy New Orleans [Member] | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | 2 | (5) | |||||||||
Payments (receipts) based on production costs | (25) | (1) | (15) | (1) | (15) | 0 | 0 | 0 | (7) | 0 | |
Entergy Texas [Member] | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | $ (49) | (43) | |||||||||
Payments (receipts) based on production costs | $ 0 | $ (3) | $ 15 | $ (15) | $ 15 | $ 0 | $ 0 | $ (119) | $ (65) | $ (30) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2016 | Aug. 31, 2015 | Aug. 31, 2008 | Jul. 31, 2008 | Dec. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2009 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2012 | Oct. 31, 2015 | |
Income Taxes [Line Items] | ||||||||||||
Reduction in taxable income relating to 2009 CAM settlement | $ 5,700,000 | |||||||||||
Valuation allowance on the deferred tax assets related to state net operating loss carryovers | $ 62,000 | $ 62,000 | $ 46,000 | |||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | $ 63,500 | 1,240,000 | 1,240,000 | 955,000 | $ 516,000 | |||||||
Remaining balances of unrecognized tax benefits, effective income tax rates | 2,670,000 | 2,670,000 | 1,657,000 | 4,221,000 | ||||||||
Accrued income tax interest and penalties | 30,000 | 30,000 | 27,000 | 127,000 | ||||||||
Regulatory Liabilities | $ 107,000 | |||||||||||
Adjustment 2009 CAM | $ 9,300,000 | |||||||||||
Deferred Income Taxes and Tax Credits | (836,257) | (820,350) | 596,935 | |||||||||
Deferred Tax Assets, Valuation Allowance | 104,277 | 104,277 | 91,532 | |||||||||
Income tax benefit resulting from 2006-2007 audit | $ 20,000 | |||||||||||
Tax Deduction Related to Nuclear Decommissioning Tax Liability | $ 118,000 | |||||||||||
2009 tax claim related to nuclear decommissioning liability | 9,300,000 | |||||||||||
Increase to 2009 Federal Income Tax Liability | $ 2,400 | |||||||||||
Other | 59,079 | 59,079 | 68,204 | 334,000 | ||||||||
Regulatory Liability, Noncurrent | 1,572,929 | 1,572,929 | 1,414,898 | 107,000 | ||||||||
Regulatory Liability Net Of Tax | $ 66,000 | |||||||||||
Valuation allowances on deferred tax assets related to state jurisdictions | 42,300 | 42,300 | 45,500 | |||||||||
Reduction in income tax expense related to permanent difference for nuclear decommissioning liability, net of unrecognized tax benefits | 238,000 | |||||||||||
Entergy Arkansas [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 3,600 | 3,600 | 4,500 | 2,600 | ||||||||
Accrued income tax interest and penalties | 1,400 | 1,400 | 1,300 | 17,000 | ||||||||
Deferred Income Taxes and Tax Credits | 201,219 | (4,330) | 130,132 | |||||||||
Income tax benefit resulting from 2006-2007 audit | 4,000 | |||||||||||
Other | 174 | 174 | 128 | |||||||||
Regulatory Liability, Noncurrent | 305,907 | 305,907 | 242,913 | |||||||||
Entergy Louisiana [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 61,600 | 473,300 | 473,300 | 692,700 | 267,300 | |||||||
Accrued income tax interest and penalties | 8,400 | 8,400 | 9,300 | 22,200 | ||||||||
Regulatory Liabilities | 16,100 | 53,900 | 53,900 | 68,300 | ||||||||
Proceeds from LURC | 148,600 | |||||||||||
Proceed from loan by LCDA to corporation LURC | 148,600 | |||||||||||
Deferred Income Taxes and Tax Credits | 178,549 | 97,461 | 248,686 | |||||||||
Income tax benefit resulting from 2006-2007 audit | 11,000 | |||||||||||
Other | 17,110 | 17,110 | 21,982 | |||||||||
Regulatory Liability, Noncurrent | 880,974 | 880,974 | 818,623 | |||||||||
Regulatory Liability Net Of Tax | 9,900 | |||||||||||
Unrecognized Tax Benefits Impacting Effective Tax Rate from Vidalia PPA | $ 74,500 | |||||||||||
Noncash Capital Contribution from Parent | 0 | 267,826 | 0 | |||||||||
Change in accounting method for tax purposes, effect of change on taxable income | 2,200,000 | |||||||||||
Deductible temporary difference related to election to mark-to-market certain power purchase and sales agreements | 2,200,000 | |||||||||||
Entergy Mississippi [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 0 | 0 | 8,100 | 3,900 | ||||||||
Accrued income tax interest and penalties | 800 | 800 | 400 | 2,800 | ||||||||
Deferred Income Taxes and Tax Credits | 60,986 | 18,673 | 32,472 | |||||||||
Other | 1,152 | 1,152 | 1,995 | |||||||||
Entergy New Orleans [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 33,600 | 33,600 | 50,700 | 50,700 | ||||||||
Accrued income tax interest and penalties | 1,500 | 1,500 | 1,800 | 1,300 | ||||||||
Deferred Income Taxes and Tax Credits | 140,283 | 22,180 | 24,380 | |||||||||
Other | 496 | 496 | 316 | |||||||||
Entergy Texas [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 7,000 | 7,000 | 5,200 | 10,500 | ||||||||
Accrued income tax interest and penalties | 1,200 | 1,200 | 1,200 | 1,000 | ||||||||
Deferred Income Taxes and Tax Credits | 20,794 | (23,292) | 2,829 | |||||||||
Other | 2,955 | 2,955 | 1,672 | |||||||||
Regulatory Liability, Noncurrent | 8,502 | 8,502 | 6,396 | |||||||||
System Energy [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 0 | 0 | 700 | 3,700 | ||||||||
Accrued income tax interest and penalties | 3,700 | 3,700 | 700 | 23,800 | ||||||||
Deferred Income Taxes and Tax Credits | 99,531 | 200,797 | $ 79,835 | |||||||||
Income tax benefit resulting from 2006-2007 audit | $ 1,000 | |||||||||||
Other | 0 | 0 | 0 | |||||||||
Regulatory Liability, Noncurrent | 370,862 | $ 370,862 | $ 337,424 | |||||||||
Change in accounting method for tax purposes, effect of change on taxable income | $ 1,200,000 | |||||||||||
Hurricane Rita [Member] | Entergy Gulf States Louisiana [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Proceeds from LURC | $ 274,700 | |||||||||||
Proceed from loan by LCDA to corporation LURC | $ 274,700 | |||||||||||
Hurricane Rita [Member] | Entergy Louisiana [Member] | ||||||||||||
Income Taxes [Line Items] | ||||||||||||
Proceeds from LURC | $ 679,000 | |||||||||||
Proceed from loan by LCDA to corporation LURC | $ 679,000 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Tax Expenses From Continuing Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Federal | $ 45,249 | $ 77,166 | $ 90,061 |
Foreign | 68 | 97 | 90 |
State | (14,960) | 157,829 | (12,637) |
Total | 30,357 | 235,092 | 77,514 |
Deferred and non-current -- net | (840,465) | (864,799) | 528,326 |
Investment tax credit adjustments - net | (7,151) | (13,220) | (16,243) |
Income Tax Expense (Benefit) | (817,259) | (642,927) | 589,597 |
Entergy Arkansas [Member] | |||
Federal | (14,748) | 66,966 | (34,258) |
State | 2,805 | 6,265 | (678) |
Total | (11,943) | 73,231 | (34,936) |
Deferred and non-current -- net | 120,942 | (31,463) | 119,841 |
Investment tax credit adjustments - net | (1,226) | (1,227) | (1,276) |
Income Tax Expense (Benefit) | 107,773 | 40,541 | 83,629 |
Entergy Louisiana [Member] | |||
Federal | (124,113) | 101,382 | (44,909) |
State | 10,757 | 35,406 | (1,191) |
Total | (113,356) | 136,788 | (46,100) |
Deferred and non-current -- net | 208,157 | 47,220 | 236,794 |
Investment tax credit adjustments - net | (5,067) | (5,337) | (5,642) |
Income Tax Expense (Benefit) | 89,734 | 178,671 | 185,052 |
Entergy Mississippi [Member] | |||
Federal | 10,603 | 25,628 | 8,103 |
State | 2,257 | 6,832 | 7,474 |
Total | 12,860 | 32,460 | 15,577 |
Deferred and non-current -- net | 46,984 | 31,149 | 42,305 |
Investment tax credit adjustments - net | 4,010 | (1,737) | (2,172) |
Income Tax Expense (Benefit) | 63,854 | 61,872 | 55,710 |
Entergy New Orleans [Member] | |||
Federal | (91,067) | (9,346) | (1,428) |
State | 566 | 1,784 | 510 |
Total | (90,501) | (7,562) | (918) |
Deferred and non-current -- net | 119,345 | 32,890 | 14,592 |
Investment tax credit adjustments - net | (139) | (138) | (224) |
Income Tax Expense (Benefit) | 28,705 | 25,190 | 13,450 |
Entergy Texas [Member] | |||
Federal | 19,656 | 53,313 | 48,610 |
State | 1,374 | 2,450 | 4,877 |
Total | 21,030 | 55,763 | 53,487 |
Deferred and non-current -- net | 42,982 | (17,599) | (2,418) |
Investment tax credit adjustments - net | (915) | (914) | (1,425) |
Income Tax Expense (Benefit) | 63,097 | 37,250 | 49,644 |
System Energy [Member] | |||
Federal | 29,628 | (63,302) | 19,908 |
State | (25,825) | 26,755 | 15,379 |
Total | 3,803 | (36,547) | 35,287 |
Deferred and non-current -- net | 71,051 | 93,491 | 53,501 |
Investment tax credit adjustments - net | (3,793) | (3,867) | (5,478) |
Income Tax Expense (Benefit) | $ 71,061 | $ 53,077 | $ 83,310 |
Income Taxes (Schedule Of Statu
Income Taxes (Schedule Of Statutory Income Tax Rate To Income Before Taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||||
Net income (loss) attributable to Entergy Corporation | $ (1,769,068) | $ 388,170 | $ 567,314 | $ 229,966 | $ 99,573 | $ (723,027) | $ 148,843 | $ 298,050 | $ (583,618) | $ (176,562) | $ 940,721 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 19,115 | 19,828 | 19,536 | |||||||||||
Consolidated net income (loss) | (1,765,539) | 393,204 | 572,590 | 235,242 | 104,849 | (718,233) | 153,722 | 302,929 | (564,503) | [1] | (156,734) | [1] | 960,257 | [1] |
Income Tax Expense (Benefit) | (817,259) | (642,927) | 589,597 | |||||||||||
Income before income taxes | (1,381,762) | (799,661) | 1,549,854 | |||||||||||
Computed at statutory rate (35%) | (483,617) | (279,881) | 542,449 | |||||||||||
State income taxes net of federal income tax effect | 40,581 | 29,944 | 44,708 | |||||||||||
Regulatory differences - utility plant items | 33,581 | 32,089 | 39,321 | |||||||||||
Equity component of AFUDC | (23,647) | (18,191) | (21,108) | |||||||||||
Amortization of investment tax credits | (10,889) | (11,136) | (12,211) | |||||||||||
Deferred tax reversal on PPA settlement | 0 | 0 | 21,500 | |||||||||||
Flow-through / permanent differences | (19,307) | (7,872) | (18,003) | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | (67,119) | (56,683) | 32,573 | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 11,411 | 0 | 0 | |||||||||||
Other - net | $ 2,984 | $ 2,458 | $ 3,368 | |||||||||||
Effective Income Tax Rate | 59.10% | 80.40% | 38.00% | |||||||||||
Increase (Reduction) in tax resulting from Louisiana business combination | $ 0 | $ (333,655) | $ 0 | |||||||||||
Increase (Reduction) in income tax resulting from Entergy Wholesale Commodities restructuring | (237,760) | 0 | 0 | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | (63,477) | 0 | 0 | |||||||||||
Entergy Arkansas [Member] | ||||||||||||||
Net income (loss) attributable to Entergy Corporation | 3,521 | 108,672 | 32,173 | 17,576 | (22,499) | 53,944 | 19,807 | 16,147 | 161,942 | 67,399 | 114,519 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 5,270 | 6,873 | 6,873 | |||||||||||
Consolidated net income (loss) | 3,879 | 110,148 | 33,891 | 19,294 | (20,780) | 55,662 | 21,525 | 17,865 | 167,212 | 74,272 | 121,392 | |||
Income Tax Expense (Benefit) | 107,773 | 40,541 | 83,629 | |||||||||||
Income before income taxes | 274,985 | 114,813 | 205,021 | |||||||||||
Computed at statutory rate (35%) | 96,245 | 40,185 | 71,757 | |||||||||||
State income taxes net of federal income tax effect | 11,652 | 6,643 | 9,591 | |||||||||||
Regulatory differences - utility plant items | 10,971 | 7,299 | 8,653 | |||||||||||
Equity component of AFUDC | (5,985) | (4,979) | (2,533) | |||||||||||
Amortization of investment tax credits | (1,201) | (1,201) | (1,251) | |||||||||||
Flow-through / permanent differences | (3,848) | (4,062) | (5,082) | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | (717) | (3,978) | 1,881 | |||||||||||
Other - net | $ 656 | $ 634 | $ 613 | |||||||||||
Effective Income Tax Rate | 39.20% | 35.30% | 40.80% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
Entergy Louisiana [Member] | ||||||||||||||
Net income (loss) attributable to Entergy Corporation | 67,610 | 189,506 | 253,325 | 111,606 | 24,410 | 185,290 | 107,037 | 124,165 | 622,047 | $ 440,902 | $ 438,226 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 5,737 | 7,796 | |||||||||||
Consolidated net income (loss) | 67,610 | 189,506 | 253,325 | 111,606 | 24,409 | 187,140 | 108,981 | 126,109 | 622,047 | 446,639 | 446,022 | |||
Income Tax Expense (Benefit) | 89,734 | 178,671 | 185,052 | |||||||||||
Income before income taxes | 711,781 | 625,310 | 631,074 | |||||||||||
Computed at statutory rate (35%) | 249,123 | 218,859 | 220,876 | |||||||||||
State income taxes net of federal income tax effect | 29,014 | 23,650 | 11,666 | |||||||||||
Regulatory differences - utility plant items | 8,094 | 3,013 | 7,487 | |||||||||||
Equity component of AFUDC | (9,774) | (5,420) | (14,612) | |||||||||||
Amortization of investment tax credits | (5,019) | (5,252) | (5,594) | |||||||||||
Flow-through / permanent differences | (980) | 2,460 | (225) | |||||||||||
Non-taxable dividend income | (44,658) | (44,658) | (41,255) | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | (75,871) | (15,377) | 5,336 | |||||||||||
Other - net | $ 1,425 | $ 1,396 | $ 1,373 | |||||||||||
Effective Income Tax Rate | 12.60% | 28.60% | 29.30% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ (61,620) | |||||||||||||
Entergy Mississippi [Member] | ||||||||||||||
Net income (loss) attributable to Entergy Corporation | 12,938 | 45,905 | 31,487 | 16,411 | 4,211 | 35,869 | 25,572 | 24,228 | 106,741 | $ 89,880 | $ 71,993 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 2,443 | 2,828 | 2,828 | |||||||||||
Consolidated net income (loss) | 13,260 | 46,612 | 32,194 | 17,118 | 4,918 | 36,576 | 26,279 | 24,935 | 109,184 | 92,708 | 74,821 | |||
Income Tax Expense (Benefit) | 63,854 | 61,872 | 55,710 | |||||||||||
Income before income taxes | 173,038 | 154,580 | 130,531 | |||||||||||
Computed at statutory rate (35%) | 60,563 | 54,103 | 45,686 | |||||||||||
State income taxes net of federal income tax effect | 5,592 | 5,219 | 5,180 | |||||||||||
Regulatory differences - utility plant items | (1,154) | 2,383 | 4,448 | |||||||||||
Equity component of AFUDC | (2,030) | (1,083) | (833) | |||||||||||
Amortization of investment tax credits | (160) | (160) | (260) | |||||||||||
Flow-through / permanent differences | 764 | 431 | 555 | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 50 | 756 | 718 | |||||||||||
Other - net | $ 229 | $ 223 | $ 216 | |||||||||||
Effective Income Tax Rate | 36.90% | 40.00% | 42.70% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
Entergy New Orleans [Member] | ||||||||||||||
Net income (loss) attributable to Entergy Corporation | 1,896 | 23,460 | 11,602 | 10,926 | 3,333 | 18,922 | 10,654 | 11,051 | 47,884 | $ 43,960 | $ 30,065 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 965 | 965 | 965 | |||||||||||
Consolidated net income (loss) | 2,138 | 23,701 | 11,843 | 11,167 | 3,575 | 19,163 | 10,895 | 11,292 | 48,849 | 44,925 | 31,030 | |||
Income Tax Expense (Benefit) | 28,705 | 25,190 | 13,450 | |||||||||||
Income before income taxes | 77,554 | 70,115 | 44,480 | |||||||||||
Computed at statutory rate (35%) | 27,144 | 24,540 | 15,568 | |||||||||||
State income taxes net of federal income tax effect | 3,543 | 2,887 | 1,562 | |||||||||||
Regulatory differences - utility plant items | 2,329 | 2,201 | 777 | |||||||||||
Equity component of AFUDC | (412) | (451) | (320) | |||||||||||
Amortization of investment tax credits | (132) | (111) | (218) | |||||||||||
Flow-through / permanent differences | (3,609) | (4,539) | (4,458) | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | (300) | 525 | 405 | |||||||||||
Other - net | $ 142 | $ 138 | $ 134 | |||||||||||
Effective Income Tax Rate | 37.00% | 35.90% | 30.20% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
Entergy Texas [Member] | ||||||||||||||
Consolidated net income (loss) | 12,785 | 56,133 | 24,058 | 14,562 | (5,170) | 43,314 | 14,890 | 16,591 | 107,538 | $ 69,625 | $ 74,804 | |||
Income Tax Expense (Benefit) | 63,097 | 37,250 | 49,644 | |||||||||||
Income before income taxes | 170,635 | 106,875 | 124,448 | |||||||||||
Computed at statutory rate (35%) | 59,722 | 37,406 | 43,557 | |||||||||||
State income taxes net of federal income tax effect | 449 | 1,621 | 3,221 | |||||||||||
Regulatory differences - utility plant items | 4,140 | 3,703 | 4,165 | |||||||||||
Equity component of AFUDC | (2,666) | (1,987) | (1,035) | |||||||||||
Amortization of investment tax credits | (900) | (900) | (1,412) | |||||||||||
Flow-through / permanent differences | 634 | 530 | 393 | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 1,926 | (3,365) | 522 | |||||||||||
Other - net | $ 246 | $ 242 | $ 233 | |||||||||||
Effective Income Tax Rate | 37.00% | 34.90% | 39.90% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ (454) | |||||||||||||
System Energy [Member] | ||||||||||||||
Consolidated net income (loss) | $ 23,326 | $ 22,370 | $ 25,090 | $ 25,958 | $ 38,702 | $ 25,223 | $ 21,860 | $ 25,533 | 96,744 | $ 111,318 | $ 96,334 | |||
Income Tax Expense (Benefit) | 71,061 | 53,077 | 83,310 | |||||||||||
Income before income taxes | 167,805 | 164,395 | 179,644 | |||||||||||
Computed at statutory rate (35%) | 58,732 | 57,538 | 62,875 | |||||||||||
State income taxes net of federal income tax effect | 7,001 | 6,403 | 6,877 | |||||||||||
Regulatory differences - utility plant items | 9,201 | 12,167 | 13,791 | |||||||||||
Equity component of AFUDC | (2,780) | (2,973) | (1,774) | |||||||||||
Amortization of investment tax credits | (3,476) | (3,476) | (3,476) | |||||||||||
Flow-through / permanent differences | (883) | 618 | (327) | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 3,151 | (17,313) | 5,235 | |||||||||||
Other - net | $ 115 | $ 113 | $ 109 | |||||||||||
Effective Income Tax Rate | 42.30% | 32.30% | 46.40% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Income Taxes (Significant Compo
Income Taxes (Significant Components Of Accumulated Deferred Income Taxes And Taxes Accrued) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 31, 2015 |
Plant basis differences - net | $ (6,362,905) | $ (6,804,225) | |
Regulatory assets for income taxes - net | (584,572) | (646,392) | |
Nuclear decommissioning trusts | (1,739,977) | (1,254,463) | |
Pension, net funding | (429,896) | (365,111) | |
Combined unitary state taxes | (33,063) | (45,078) | |
Power purchase agreements | (993) | 0 | |
Other | (251,719) | (315,844) | |
Total | (9,403,125) | (9,431,113) | |
Regulatory liabilities | 255,272 | 284,432 | |
Pension and other post-employment benefits | 539,456 | 525,524 | |
Sale and leaseback | 135,866 | 139,720 | |
Compensation | 99,300 | 69,432 | |
Accumulated deferred investment tax credit | 92,375 | 95,248 | |
Provision for allowances and contingencies | 188,390 | 188,282 | |
Deferred Tax Assets, Power Purchase Arrangements | 0 | 38,401 | |
Net operating loss carryforwards | 334,025 | 360,188 | |
Capital losses and miscellaneous tax credits | 18,470 | 11,075 | |
Valuation allowance | (104,277) | (91,532) | |
Other | 59,079 | 68,204 | $ 334,000 |
Total | 3,017,424 | 2,517,957 | |
Noncurrent accrued taxes (including unrecognized tax benefits) | (991,704) | (1,338,806) | |
Deferred tax asset Nuclear Decommissioning Liabilities | 1,399,468 | 828,983 | |
Deferred Tax Liabilities, Net, Noncurrent | (7,495,290) | (8,306,865) | |
Deferred Tax Assets, Net | (7,377,405) | (8,251,962) | |
Entergy Arkansas [Member] | |||
Plant basis differences - net | (1,857,554) | (1,710,444) | |
Regulatory assets for income taxes - net | (109,241) | (108,422) | |
Nuclear decommissioning trusts | (144,250) | (121,326) | |
Pension, net funding | (123,889) | (107,073) | |
Power purchase agreements | 0 | ||
Deferred fuel | (14,774) | (7,647) | |
Other | (47,785) | (38,683) | |
Total | (2,297,493) | (2,093,595) | |
Regulatory liabilities | 5,768 | 18,369 | |
Pension and other post-employment benefits | (24,467) | (20,420) | |
Sale and leaseback | 0 | 0 | |
Compensation | 2,787 | 1,842 | |
Accumulated deferred investment tax credit | 13,848 | 14,320 | |
Provision for allowances and contingencies | (1,497) | 1,024 | |
Deferred Tax Assets, Power Purchase Arrangements | (3,094) | (1,279) | |
Net operating loss carryforwards | 69,524 | 0 | |
Other | 174 | 128 | |
Total | 196,122 | 133,761 | |
Noncurrent accrued taxes (including unrecognized tax benefits) | (85,252) | (22,978) | |
Deferred Tax Assets, Deferred Income | 6,799 | 9,815 | |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 2,074 | ||
Deferred tax asset Nuclear Decommissioning Liabilities | 124,206 | 109,962 | |
Deferred Tax Liabilities, Net, Noncurrent | (2,186,623) | (1,982,812) | |
Entergy Louisiana [Member] | |||
Plant basis differences - net | (2,357,599) | (2,041,968) | |
Regulatory assets for income taxes - net | (219,750) | (254,316) | |
Nuclear decommissioning trusts | (119,544) | (99,980) | |
Pension, net funding | (122,465) | (109,709) | |
Power purchase agreements | 0 | ||
Deferred fuel | (1,778) | (2,513) | |
Other | (22,136) | (86,275) | |
Total | (2,843,272) | (2,594,761) | |
Regulatory liabilities | 175,973 | 215,154 | |
Pension and other post-employment benefits | 145,401 | 149,680 | |
Sale and leaseback | 33,383 | 37,236 | |
Compensation | 5,309 | 4,182 | |
Accumulated deferred investment tax credit | 54,509 | 56,635 | |
Provision for allowances and contingencies | 124,309 | 123,007 | |
Deferred Tax Assets, Power Purchase Arrangements | 29,827 | 13,840 | |
Net operating loss carryforwards | 17,125 | 90,241 | |
Other | 17,110 | 21,982 | |
Total | 623,348 | 728,925 | |
Noncurrent accrued taxes (including unrecognized tax benefits) | (471,194) | (641,120) | |
Deferred Tax Assets, Deferred Income | (35,006) | (32,365) | |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | ||
Deferred tax asset Nuclear Decommissioning Liabilities | 55,408 | 49,333 | |
Deferred Tax Liabilities, Net, Noncurrent | (2,691,118) | (2,506,956) | |
Entergy Mississippi [Member] | |||
Plant basis differences - net | (820,971) | (781,427) | |
Regulatory assets for income taxes - net | (25,309) | (24,918) | |
Nuclear decommissioning trusts | 0 | 0 | |
Pension, net funding | (34,284) | (30,901) | |
Power purchase agreements | 0 | ||
Deferred fuel | (12,770) | (684) | |
Other | (12,474) | (5,625) | |
Total | (905,808) | (843,555) | |
Regulatory liabilities | 18,833 | 7,787 | |
Pension and other post-employment benefits | (8,042) | (6,628) | |
Sale and leaseback | 0 | 0 | |
Compensation | 1,492 | 601 | |
Accumulated deferred investment tax credit | 3,315 | 1,777 | |
Provision for allowances and contingencies | 21,817 | 18,735 | |
Deferred Tax Assets, Power Purchase Arrangements | 1,905 | 1,901 | |
Net operating loss carryforwards | 0 | 0 | |
Other | 1,152 | 1,995 | |
Total | 50,044 | 33,322 | |
Noncurrent accrued taxes (including unrecognized tax benefits) | (5,567) | (402) | |
Deferred Tax Assets, Deferred Income | 5,085 | 7,154 | |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 4,487 | ||
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 | |
Deferred Tax Liabilities, Net, Noncurrent | (861,331) | (810,635) | |
Entergy New Orleans [Member] | |||
Plant basis differences - net | (177,242) | (167,294) | |
Regulatory assets for income taxes - net | (36,301) | (39,451) | |
Nuclear decommissioning trusts | 0 | 0 | |
Pension, net funding | (16,307) | (14,459) | |
Power purchase agreements | 0 | ||
Deferred fuel | (5,229) | (175) | |
Other | (18,536) | (12,253) | |
Total | (253,615) | (233,632) | |
Regulatory liabilities | 25,240 | 20,888 | |
Pension and other post-employment benefits | (12,070) | (8,939) | |
Sale and leaseback | 0 | 0 | |
Compensation | 685 | 880 | |
Accumulated deferred investment tax credit | 239 | 290 | |
Provision for allowances and contingencies | 36,466 | 33,843 | |
Deferred Tax Assets, Power Purchase Arrangements | 0 | 13 | |
Net operating loss carryforwards | 0 | 0 | |
Other | 496 | 316 | |
Total | 54,807 | 49,417 | |
Noncurrent accrued taxes (including unrecognized tax benefits) | (136,145) | (29,846) | |
Deferred Tax Assets, Deferred Income | 3,751 | 2,126 | |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | ||
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 | |
Deferred Tax Liabilities, Net, Noncurrent | (334,953) | (214,061) | |
Entergy Texas [Member] | |||
Plant basis differences - net | (835,671) | (778,270) | |
Regulatory assets for income taxes - net | (153,914) | (172,117) | |
Nuclear decommissioning trusts | 0 | 0 | |
Pension, net funding | (28,371) | (28,001) | |
Power purchase agreements | 0 | ||
Deferred fuel | (2,808) | 2,050 | |
Other | (8,812) | (10,109) | |
Total | (1,029,576) | (986,447) | |
Regulatory liabilities | 15,814 | 7,307 | |
Pension and other post-employment benefits | (19,096) | (16,703) | |
Sale and leaseback | 0 | 0 | |
Compensation | 1,587 | 4,496 | |
Accumulated deferred investment tax credit | 4,527 | 4,842 | |
Provision for allowances and contingencies | 5,904 | 7,266 | |
Deferred Tax Assets, Power Purchase Arrangements | 140 | 575 | |
Net operating loss carryforwards | 0 | 0 | |
Other | 2,955 | 1,672 | |
Total | 23,733 | 20,306 | |
Noncurrent accrued taxes (including unrecognized tax benefits) | (21,804) | (40,693) | |
Deferred Tax Assets, Deferred Income | 11,902 | 10,851 | |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | ||
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 | |
Deferred Tax Liabilities, Net, Noncurrent | (1,027,647) | (1,006,834) | |
System Energy [Member] | |||
Plant basis differences - net | (651,394) | (611,745) | |
Regulatory assets for income taxes - net | (39,879) | (46,990) | |
Nuclear decommissioning trusts | (83,891) | (68,370) | |
Pension, net funding | (29,357) | (25,791) | |
Power purchase agreements | 0 | ||
Deferred fuel | (1,137) | (18) | |
Other | (2,051) | (22,478) | |
Total | (807,709) | (775,392) | |
Regulatory liabilities | 13,644 | 14,927 | |
Pension and other post-employment benefits | (1,182) | (1,037) | |
Sale and leaseback | 102,483 | 102,484 | |
Compensation | 360 | 0 | |
Accumulated deferred investment tax credit | 15,936 | 17,385 | |
Provision for allowances and contingencies | 0 | 134 | |
Deferred Tax Assets, Power Purchase Arrangements | 0 | 0 | |
Net operating loss carryforwards | 0 | 0 | |
Other | 0 | 0 | |
Total | 184,354 | 173,313 | |
Noncurrent accrued taxes (including unrecognized tax benefits) | (489,510) | (416,996) | |
Deferred Tax Assets, Deferred Income | 0 | 0 | |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | ||
Deferred tax asset Nuclear Decommissioning Liabilities | 53,113 | 39,420 | |
Deferred Tax Liabilities, Net, Noncurrent | $ (1,112,865) | $ (1,019,075) |
Income Taxes (Schedule Of Estim
Income Taxes (Schedule Of Estimated Tax Attributes Carryovers And Their Expiration Dates) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Loss Carryforwards [Line Items] | ||
Capital losses, Carryover Amount | $ 18,470 | $ 11,075 |
Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 6,700,000 | |
Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 184,000 | |
Tax credits, Carryover Amount | 2,000 | |
Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 4,400,000 | |
Operating losses, Year(s) of expiration | Dec. 31, 2036 | |
Tax credits, Carryover Amount | $ 0 | |
Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 3,000 | |
Federal [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 34,000 | |
Tax credits, Carryover Amount | 0 | |
Federal [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 0 | |
Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 201,000 | |
Tax credits, Carryover Amount | 2,000 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 7,800,000 | |
State and Local Jurisdiction [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 80,000 | |
Operating losses, Year(s) of expiration | Dec. 31, 2021 | |
Tax credits, Carryover Amount | $ 0 | |
State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 4,800,000 | |
Tax credits, Carryover Amount | 0 | |
State and Local Jurisdiction [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 4,500 | |
State and Local Jurisdiction [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 285,000 | |
Tax credits, Carryover Amount | 0 | |
State and Local Jurisdiction [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | $ 3,400 | |
Tax credits, Year(s) of expiration | 2,026 | |
State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 175,000 | |
Operating losses, Year(s) of expiration | Dec. 31, 2035 | |
Tax credits, Carryover Amount | $ 8,400 | |
Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Carryover Amount | $ 89,900 | |
Minimum [Member] | Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2023 | |
Minimum [Member] | Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2028 | |
Minimum [Member] | Federal [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2028 | |
Minimum [Member] | Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2028 | |
Minimum [Member] | State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2017 | |
Minimum [Member] | State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2029 | |
Minimum [Member] | State and Local Jurisdiction [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,018 | |
Minimum [Member] | State and Local Jurisdiction [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2032 | |
Minimum [Member] | State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,017 | |
Minimum [Member] | Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,017 | |
Minimum [Member] | Other Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,029 | |
Minimum [Member] | Other Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,029 | |
Minimum [Member] | Other Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,029 | |
Maximum [Member] | Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2036 | |
Maximum [Member] | Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2036 | |
Maximum [Member] | Federal [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2036 | |
Maximum [Member] | Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2036 | |
Maximum [Member] | State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2036 | |
Maximum [Member] | State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2036 | |
Maximum [Member] | State and Local Jurisdiction [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,020 | |
Maximum [Member] | State and Local Jurisdiction [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2035 | |
Maximum [Member] | State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,020 | |
Maximum [Member] | Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,036 | |
Maximum [Member] | Other Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,036 | |
Maximum [Member] | Other Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,036 | |
Maximum [Member] | Other Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Year(s) of expiration | 2,036 |
Income Taxes (Schedule Of Unrec
Income Taxes (Schedule Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | $ 2,611,585 | $ 4,736,785 | $ 4,593,224 |
Additions based on tax positions related to the current year | 1,532,782 | 1,850,705 | 348,543 |
Additions for tax positions of prior years | 368,404 | 59,815 | 11,637 |
Reductions for tax positions of prior years | (265,653) | (3,966,535) | (213,401) |
Settlements | (337,263) | (68,227) | 0 |
Lapse of statute of limitations | 0 | (958) | (3,218) |
Gross balance at December 31 | 3,909,855 | 2,611,585 | 4,736,785 |
Unrecognized tax benefits net of unused tax attributes and payments | 977,770 | 1,347,102 | 441,142 |
Remaining balances of unrecognized tax benefits, effective income tax rates | 2,670,000 | 1,657,000 | 4,221,000 |
Net operating loss carryforwards | 334,025 | 360,188 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (2,922,085) | (1,264,483) | (4,295,643) |
Cash Paid To Taxing Authorities | 10,000 | 0 | 0 |
Entergy Arkansas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 25,445 | 362,912 | 347,713 |
Additions based on tax positions related to the current year | 16,868 | 2,196 | 14,511 |
Additions for tax positions of prior years | 2,463 | 1,057 | 1,767 |
Reductions for tax positions of prior years | (41,957) | (340,720) | (1,079) |
Settlements | (316) | 0 | 0 |
Gross balance at December 31 | 2,503 | 25,445 | 362,912 |
Unrecognized tax benefits net of unused tax attributes and payments | 2,503 | 21,832 | 1,869 |
Net operating loss carryforwards | 69,524 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | 0 | (3,613) | (361,043) |
Entergy Louisiana [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 1,690,661 | 1,205,929 | 1,076,680 |
Additions based on tax positions related to the current year | 931,720 | 1,367,058 | 151,249 |
Additions for tax positions of prior years | 157,586 | 7,992 | 6,924 |
Reductions for tax positions of prior years | (144,068) | (859,430) | (28,924) |
Settlements | (195,560) | (30,888) | 0 |
Gross balance at December 31 | 2,440,339 | 1,690,661 | 1,205,929 |
Unrecognized tax benefits net of unused tax attributes and payments | 657,246 | 796,897 | 465,941 |
Net operating loss carryforwards | 17,125 | 90,241 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (1,783,093) | (893,764) | (739,988) |
Entergy Mississippi [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 19,482 | 20,144 | 16,186 |
Additions based on tax positions related to the current year | 2,662 | 566 | 3,928 |
Additions for tax positions of prior years | 336 | 8,140 | 319 |
Reductions for tax positions of prior years | (10,219) | 0 | (289) |
Settlements | (55) | (9,368) | 0 |
Gross balance at December 31 | 12,206 | 19,482 | 20,144 |
Unrecognized tax benefits net of unused tax attributes and payments | 9,833 | 18,466 | 13,152 |
Net operating loss carryforwards | 0 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (2,373) | (1,016) | (6,992) |
Entergy New Orleans [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 53,897 | 53,763 | 51,679 |
Additions based on tax positions related to the current year | 33,912 | 472 | 2,235 |
Additions for tax positions of prior years | 129,784 | 48 | 37 |
Reductions for tax positions of prior years | (29,821) | (386) | (188) |
Settlements | (21,542) | 0 | 0 |
Gross balance at December 31 | 166,230 | 53,897 | 53,763 |
Unrecognized tax benefits net of unused tax attributes and payments | 138,910 | 53,391 | 33,028 |
Net operating loss carryforwards | 0 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (27,320) | (506) | (20,735) |
Entergy Texas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 13,462 | 17,264 | 13,017 |
Additions based on tax positions related to the current year | 2,002 | 657 | 4,225 |
Additions for tax positions of prior years | 2,888 | 2,914 | 303 |
Reductions for tax positions of prior years | (1,849) | (3,981) | (267) |
Settlements | (557) | (3,392) | (14) |
Gross balance at December 31 | 15,946 | 13,462 | 17,264 |
Unrecognized tax benefits net of unused tax attributes and payments | 15,570 | 13,186 | 17,023 |
Net operating loss carryforwards | 0 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (376) | (276) | (241) |
System Energy [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 478,318 | 258,242 | 265,185 |
Additions based on tax positions related to the current year | 5,318 | 472,304 | 2,744 |
Additions for tax positions of prior years | 601 | 913 | 566 |
Reductions for tax positions of prior years | (10,266) | (253,141) | (10,253) |
Settlements | (1,599) | 0 | 0 |
Gross balance at December 31 | 472,372 | 478,318 | 258,242 |
Unrecognized tax benefits net of unused tax attributes and payments | 382,344 | 344,707 | 95,118 |
Net operating loss carryforwards | 0 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | $ (90,028) | $ (133,611) | $ (163,124) |
Income Taxes (Summary Of Unreco
Income Taxes (Summary Of Unrecognized Benefits That Would Affect Effective Income Tax Rate) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Unrecognized tax benefits that would impact effective income tax rate | $ 1,240 | $ 63.5 | $ 955 | $ 516 |
Entergy Arkansas [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 3.6 | 4.5 | 2.6 | |
Entergy Louisiana [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 473.3 | $ 61.6 | 692.7 | 267.3 |
Entergy Mississippi [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 0 | 8.1 | 3.9 | |
Entergy New Orleans [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 33.6 | 50.7 | 50.7 | |
Entergy Texas [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 7 | 5.2 | 10.5 | |
System Energy [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | $ 0 | $ 0.7 | $ 3.7 |
Income Taxes (Summary Of Accrue
Income Taxes (Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Accrued income tax interest and penalties | $ 30 | $ 27 | $ 127 |
Entergy Arkansas [Member] | |||
Accrued income tax interest and penalties | 1.4 | 1.3 | 17 |
Entergy Louisiana [Member] | |||
Accrued income tax interest and penalties | 8.4 | 9.3 | 22.2 |
Entergy Mississippi [Member] | |||
Accrued income tax interest and penalties | 0.8 | 0.4 | 2.8 |
Entergy New Orleans [Member] | |||
Accrued income tax interest and penalties | 1.5 | 1.8 | 1.3 |
Entergy Texas [Member] | |||
Accrued income tax interest and penalties | 1.2 | 1.2 | 1 |
System Energy [Member] | |||
Accrued income tax interest and penalties | $ 3.7 | $ 0.7 | $ 23.8 |
Revolving Credit Facilities, 68
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Feb. 28, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | ||
Debt Instrument [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 3,500 | |||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | |||
Line of credit facility, commitment fee percentage | 0.225% | |||
Consolidated debt ratio | 65.00% | |||
Commercial Paper program limit | $ 1,500 | |||
Commercial Paper Amount Outstanding | $ 344 | |||
Consolidated debt ratio of lessees total capitalization | 70.00% | |||
Amount Drawn/ Outstanding | $ 700 | |||
Entergy Mississippi [Member] | ||||
Debt Instrument [Line Items] | ||||
Consolidated debt ratio | 65.00% | |||
Letters of Credit Outstanding, Amount | $ 0.1 | |||
Letters of credit posted to cover derivative exposure | 0.1 | |||
Entergy New Orleans [Member] | ||||
Debt Instrument [Line Items] | ||||
Issuance of letters of credit, limit of total borrowing capacity | $ 10 | |||
Consolidated debt ratio | 65.00% | |||
Entergy Nuclear Vermont Yankee [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 100 | $ 100 | ||
Line of credit facility, commitment fee percentage | 0.20% | |||
Debt, weighted average interest rate | 2.17% | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.27% | |||
Amount Drawn/ Outstanding | $ 45 | |||
Uncommitted Credit Facility | $ 85 | |||
Entergy Arkansas [Member] | ||||
Debt Instrument [Line Items] | ||||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | |||
Consolidated debt ratio | 65.00% | |||
Consolidated debt ratio of lessees total capitalization | 70.00% | |||
Letters of Credit Outstanding, Amount | $ 0.3 | |||
Letters of credit posted to cover derivative exposure | $ 0.3 | |||
Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | |||
Consolidated debt ratio | 65.00% | |||
Entergy Louisiana [Member] | ||||
Debt Instrument [Line Items] | ||||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | |||
Consolidated debt ratio | 65.00% | |||
Consolidated debt ratio of lessees total capitalization | 70.00% | |||
Entergy Louisiana Waterford VIE [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | |||
Amount Drawn/ Outstanding | [1] | $ 3.8 | ||
Entergy Louisiana River Bend VIE [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | |||
Amount Drawn/ Outstanding | $ 0 | |||
System Energy VIE [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | |||
Amount Drawn/ Outstanding | [1] | $ 66.9 | ||
Entergy Arkansas VIE [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | |||
Amount Drawn/ Outstanding | [1] | $ 0 | ||
Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt, weighted average interest rate | 2.23% | |||
Commercial Paper Program [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt, weighted average interest rate | 1.13% | |||
Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | Entergy Louisiana Waterford VIE [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes payable noncurrent amount | $ 40 | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | |||
Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, commitment fee percentage | 0.275% | |||
Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, commitment fee percentage | 0.075% | |||
Subsequent Event [Member] | Four Point Zero Two Percent Series H Notes [Domain] | System Energy VIE [Member] | ||||
Debt Instrument [Line Items] | ||||
Redemption of debt instrument | $ 50 | |||
Debt, weighted average interest rate | 4.02% | |||
[1] | (b) Commercial paper, classified as a current liability. |
Revolving Credit Facilities, 69
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Summary Of The Borrowings Outstanding And Capacity Available Under The Facility) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Summary of the borrowings outstanding and capacity available under the facility | |
Line of credit facility, maximum borrowing capacity | $ 3,500 |
Amount Drawn/ Outstanding | 700 |
Letters of Credit | 6 |
Capacity Available | $ 2,794 |
Revolving Credit Facilities, 70
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Credit Facilities) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Line of credit facility, maximum borrowing capacity | $ 3,500,000 |
Amount Drawn/ Outstanding | $ 700,000 |
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% |
Entergy Arkansas [Member] | |
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% |
Letters of Credit Outstanding, Amount | $ 300 |
Entergy Arkansas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | |
Expiration Date | Aug. 14, 2021 |
Line of credit facility, maximum borrowing capacity | $ 150,000 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Arkansas [Member] | Credit Facility Of Twenty Million [Member] | |
Expiration Date | Apr. 30, 2017 |
Line of credit facility, maximum borrowing capacity | $ 20,000 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Louisiana [Member] | |
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% |
Entergy Louisiana [Member] | Credit Facility Of Three Hundred and Fifty Million [Member] | |
Expiration Date | Aug. 14, 2021 |
Line of credit facility, maximum borrowing capacity | $ 350,000 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | 6,400 |
Entergy Mississippi [Member] | |
Letters of Credit Outstanding, Amount | $ 100 |
Entergy Mississippi [Member] | Credit Facility Of Thirty Five Million [Member] | |
Expiration Date | May 31, 2017 |
Line of credit facility, maximum borrowing capacity | $ 35,000 |
Interest Rate | 2.27% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Mississippi [Member] | Credit Facility Of Twenty Million [Member] | |
Expiration Date | May 31, 2017 |
Line of credit facility, maximum borrowing capacity | $ 20,000 |
Interest Rate | 2.27% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Mississippi [Member] | Credit Facility Of Ten Million [Member] | |
Expiration Date | May 31, 2017 |
Line of credit facility, maximum borrowing capacity | $ 10,000 |
Interest Rate | 2.27% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Mississippi [Member] | Credit Facility Of Thirty Seven Point Five Million [Member] | |
Expiration Date | May 31, 2017 |
Line of credit facility, maximum borrowing capacity | $ 37,500 |
Interest Rate | 2.27% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Texas [Member] | |
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% |
Entergy Texas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | |
Expiration Date | Aug. 14, 2021 |
Line of credit facility, maximum borrowing capacity | $ 150,000 |
Interest Rate | 2.27% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | 4,700 |
Entergy New Orleans [Member] | |
Issuance of letters of credit, limit of total borrowing capacity | $ 10,000 |
Entergy New Orleans [Member] | Credit Facility Of Twenty Five Million [Member] | |
Expiration Date | Nov. 20, 2018 |
Line of credit facility, maximum borrowing capacity | $ 25,000 |
Interest Rate | 2.52% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 800 |
Revolving Credit Facilities, 71
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations (Details) | 12 Months Ended | |
Dec. 31, 2016USD ($) | ||
Letters Of Credit | $ 6,000,000 | |
Entergy Arkansas [Member] | Credit Facility Of Twenty Five Million [Member] | ||
Uncommitted Credit Facility | 25,000,000 | |
Line of Credit Facility, Commitment Fee Amount | 0.0070 | |
Letters Of Credit | 1,000,000 | [1] |
Entergy Louisiana [Member] | Credit Facility of One Hundred and Twenty Five Million [Member] | ||
Uncommitted Credit Facility | 125,000,000 | |
Line of Credit Facility, Commitment Fee Amount | 0.0070 | |
Letters Of Credit | 5,700,000 | |
Entergy Mississippi [Member] | Credit Facility of Forty Million [Domain] | ||
Uncommitted Credit Facility | 40,000,000 | |
Line of Credit Facility, Commitment Fee Amount | 0.0070 | |
Letters Of Credit | 7,100,000 | [1] |
Entergy New Orleans [Member] | Credit Facility of Fifteen Million [Domain] | ||
Uncommitted Credit Facility | 15,000,000 | |
Line of Credit Facility, Commitment Fee Amount | 0.0100 | |
Letters Of Credit | 6,200,000 | |
Entergy Texas [Member] | Credit Facility of Fifty Million [Domain] | ||
Uncommitted Credit Facility | 50,000,000 | |
Line of Credit Facility, Commitment Fee Amount | 0.0070 | |
Letters Of Credit | $ 14,700,000 | |
[1] | (a) As of December 31, 2016, letters of credit posted with MISO covered financial transmission right exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. |
Revolving Credit Facilities, 72
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Short-Term Borrowings And The Outstanding Short-Term Borrowings) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Entergy Arkansas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | $ 250 |
Borrowings | 51.2 |
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 | 0 |
System Energy [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | $ 0 |
Revolving Credit Facilities, 73
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2016USD ($) | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Amount Drawn/ Outstanding | $ 700 | |
Entergy Arkansas VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | May 16, 2019 | |
Amount of Facility | $ 80 | |
Amount Drawn/ Outstanding | $ 0 | [1] |
System Energy VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | May 16, 2019 | |
Amount of Facility | $ 120 | |
Weighted Average Interest Rate on Borrowings | 2.20% | [2] |
Amount Drawn/ Outstanding | $ 66.9 | [1] |
Entergy Louisiana Waterford VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | May 16, 2019 | |
Amount of Facility | $ 85 | |
Weighted Average Interest Rate on Borrowings | 2.15% | [2] |
Amount Drawn/ Outstanding | $ 3.8 | [1] |
Entergy Louisiana River Bend VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | May 16, 2019 | |
Amount of Facility | $ 105 | |
Amount Drawn/ Outstanding | $ 0 | |
[1] | (b) Commercial paper, classified as a current liability. | |
[2] | (a)Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel companyvariable 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. |
Revolving Credit Facilities, 74
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Notes Payable By Variable Interest Entities) (Details) $ in Millions | Dec. 31, 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 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.62% |
Amount | $ 60 |
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 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.25% |
Amount | $ 75 |
Three Point Three Eight Percent Series R Due August Two Thousand Twenty [Member] | Entergy Louisiana River Bend VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.38% |
Amount | $ 70 |
Three Point Two Five Percent Series G Due July Two Thousand Seventeen [Member] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated 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 | |
Debt Instrument, Interest Rate, Stated 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 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.02% |
Amount | $ 50 |
Three Point Seven Eight Percent Series I Due October Two Thousand Eighteen [Member] | System Energy VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.78% |
Amount | $ 85 |
Three Point Six Five Percent Series L Notes Due July Two Thousand Twenty One [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.65% |
Amount | $ 90 |
Three Point One Seven Percent Series M Notes Due December Two Thousand Twenty Three [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Amount | 40 |
Three Point Two Two Percent Series I Due December Two Thousand Twenty Three [Member] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Amount | $ 20 |
Long - Term Debt (Narrative) (D
Long - Term Debt (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2015 | Jul. 31, 2015 | May 31, 2015 | Sep. 30, 2011 | Aug. 31, 2010 | Jun. 30, 2010 | Sep. 30, 2009 | Apr. 30, 2007 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Nov. 30, 2009 | Jun. 30, 2007 | ||
Debt Instrument [Line Items] | ||||||||||||||
Year One | $ 307,403 | |||||||||||||
Year Two | 828,084 | |||||||||||||
Year Three | 724,899 | |||||||||||||
Year Four | 795,000 | |||||||||||||
Year Five | 1,674,548 | |||||||||||||
Bonds issued to recover cost | $ 774,696 | $ 661,175 | $ 774,696 | |||||||||||
System Energy [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Minimum rate of equity capital | 35.00% | |||||||||||||
Year One | $ 50,000 | |||||||||||||
Year Two | 85,000 | |||||||||||||
Year Three | 0 | |||||||||||||
Year Four | 0 | |||||||||||||
Year Five | 0 | |||||||||||||
Entergy Arkansas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Carrying costs on issuance of bonds to recover storm damage restoration costs | $ 11,500 | |||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 4,600 | |||||||||||||
Value of non interest bearing first mortgage bonds | $ 124,100 | |||||||||||||
Coupon rate of storm cost recovery bonds | 2.30% | |||||||||||||
Year One | 114,700 | |||||||||||||
Year Two | 0 | |||||||||||||
Year Three | 0 | |||||||||||||
Year Four | 0 | |||||||||||||
Year Five | 534,548 | |||||||||||||
Bonds issued to recover cost | 61,249 | 48,139 | 61,249 | |||||||||||
Entergy Louisiana [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Carrying costs on issuance of bonds to recover storm damage restoration costs | $ 207,200 | |||||||||||||
Coupon rate of storm cost recovery bonds | 2.04% | |||||||||||||
Year One | 142,703 | |||||||||||||
Year Two | 675,000 | |||||||||||||
Year Three | 0 | |||||||||||||
Year Four | 320,000 | |||||||||||||
Year Five | 240,000 | |||||||||||||
Bonds issued to recover cost | 120,549 | 99,217 | 120,549 | |||||||||||
Entergy New Orleans [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 3,000 | |||||||||||||
Year One | 2,104 | |||||||||||||
Year Two | 2,077 | |||||||||||||
Year Three | 1,979 | |||||||||||||
Year Four | 26,838 | |||||||||||||
Year Five | 1,618 | |||||||||||||
Cost recovered through issuance of securitization bonds | 98,700 | |||||||||||||
Bonds issued to recover cost | 95,867 | 84,776 | 95,867 | |||||||||||
Issuance Of Debt | $ 98,700 | |||||||||||||
Amount of Hurricane Issac storm cost to be recovered through securitization | 31,800 | |||||||||||||
Replenishment amount for storm reserve spending | $ 63,900 | |||||||||||||
Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Year One | 0 | |||||||||||||
Year Two | 23,584 | |||||||||||||
Year Three | 574,899 | |||||||||||||
Year Four | 0 | |||||||||||||
Year Five | 200,000 | |||||||||||||
Bonds issued to recover cost | 497,030 | 429,043 | $ 497,030 | |||||||||||
Hurricane Rita [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Year One | 27,600 | |||||||||||||
Year Two | 29,200 | |||||||||||||
Year Three | 30,900 | |||||||||||||
Year Four | 32,800 | |||||||||||||
Year Five | 17,500 | |||||||||||||
Cost recovered through issuance of securitization bonds | $ 353,000 | |||||||||||||
Amount of storm cost recovery bonds for transaction costs | 6,000 | |||||||||||||
Deferred income tax benefits | $ 32,000 | |||||||||||||
Bonds issued to recover cost | 329,500 | $ 329,500 | ||||||||||||
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Year One | 44,100 | |||||||||||||
Year Two | 45,800 | |||||||||||||
Year Three | 47,600 | |||||||||||||
Year Four | 49,800 | |||||||||||||
Year Five | 52,000 | |||||||||||||
Cost recovered through issuance of securitization bonds | $ 566,400 | |||||||||||||
Bonds issued to recover cost | 545,900 | $ 545,900 | ||||||||||||
Tranche A-3 (5.93%) Due June 2022 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Year Four | 4,000 | |||||||||||||
Bonds issued to recover cost | 114,400 | |||||||||||||
Tranche A-1 (5.51%) Due October 2013 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Bonds issued to recover cost | 93,500 | |||||||||||||
Tranche A-1 (2.12%) Due February 2016 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Bonds issued to recover cost | 182,500 | |||||||||||||
Tranche A-2 (5.79%) Due October 2018 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Year Four | 23,600 | |||||||||||||
Bonds issued to recover cost | 121,600 | |||||||||||||
Tranche A-2 (3.65%) Due August 2019 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Year Five | 30,800 | |||||||||||||
Bonds issued to recover cost | 144,800 | |||||||||||||
Tranche A-3 (4.38%) Due November 2023 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Year Five | 15,000 | |||||||||||||
Bonds issued to recover cost | $ 218,600 | |||||||||||||
Tranche A One Two Point Six Seven Percent Due June Two Thousand Twenty Seven [Member] | Entergy New Orleans [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Coupon rate of storm cost recovery bonds | 2.67% | |||||||||||||
Year One | $ 10,600 | |||||||||||||
Year Two | 11,000 | |||||||||||||
Year Three | 11,200 | |||||||||||||
Year Four | 11,600 | |||||||||||||
Year Five | 11,900 | |||||||||||||
Note Payable To NYPA [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, interest rate, stated percentage | 0.00% | |||||||||||||
Implicit interest rate on notes issued | 4.80% | |||||||||||||
Write down of debt liability | $ 26,400 | $ 35,100 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | |||||||||||||
Securitization Bonds, 2.30% Series Senior Secured, Due August 2021 [Member] | Entergy Arkansas [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, interest rate, stated percentage | 2.30% | 2.30% | 2.30% | |||||||||||
Year One | $ 13,800 | |||||||||||||
Year Two | 14,100 | |||||||||||||
Year Three | 14,400 | |||||||||||||
Year Four | $ 7,300 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | 2.30% | 2.30% | |||||||||||
Securitization Bonds, 2.04% Series Senior Secured, Due June 2021 [Member] | Entergy Louisiana [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, interest rate, stated percentage | 2.04% | 2.04% | 2.04% | |||||||||||
Year One | $ 21,700 | |||||||||||||
Year Two | 22,300 | |||||||||||||
Year Three | 22,700 | |||||||||||||
Year Four | 23,200 | |||||||||||||
Year Five | $ 11,000 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% | 2.04% | |||||||||||
Waterford Series Collateral Trust Mortgage Notes due 2017 [Member] | Entergy Louisiana [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Implicit interest rate on notes issued | 7.458% | |||||||||||||
Waterford 3 Lease Obligation [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, interest rate, stated percentage | [1] | 7.45% | 8.09% | 7.45% | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | [1] | 7.45% | 8.09% | 7.45% | ||||||||||
Waterford 3 Lease Obligation [Member] | Entergy Louisiana [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, interest rate, stated percentage | 8.09% | |||||||||||||
Implicit interest rate on notes issued | 7.45% | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.09% | |||||||||||||
[1] | See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation |
Long - Term Debt (Schedule Of L
Long - Term Debt (Schedule Of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Debt Instrument [Line Items] | |||
Unamortized Premium and Discount - Net | $ (19,397) | $ (12,067) | |
Unamortized Debt Issuance Expense | (128,849) | (110,349) | |
Other | 13,204 | 13,960 | |
Total Long-Term Debt | 14,832,555 | 13,325,930 | |
Long-term Debt, Current Maturities | 364,900 | 214,374 | |
Long Term Debt Excluding Amount Due Within One Year | 14,467,655 | 13,111,556 | |
Fair Value of Long-Term Debt | [1] | 14,815,535 | 13,578,511 |
Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized Premium and Discount - Net | 984 | (2,775) | |
Unamortized Debt Issuance Expense | (34,357) | (28,503) | |
Other | 2,057 | 2,073 | |
Total Long-Term Debt | 2,829,785 | 2,629,839 | |
Long-term Debt, Current Maturities | 114,700 | 55,000 | |
Long Term Debt Excluding Amount Due Within One Year | 2,715,085 | 2,574,839 | |
Fair Value of Long-Term Debt | [2] | 2,623,910 | 2,498,108 |
Value of DOE obligation excluded from fair value of long-term debt calculation. | 182,000 | ||
Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized Premium and Discount - Net | (14,917) | (4,537) | |
Unamortized Debt Issuance Expense | (48,972) | (40,156) | |
Other | 6,833 | 7,042 | |
Total Long-Term Debt | 5,812,791 | 4,836,162 | |
Long-term Debt, Current Maturities | 200,198 | 29,372 | |
Long Term Debt Excluding Amount Due Within One Year | 5,612,593 | 4,806,790 | |
Fair Value of Long-Term Debt | [2] | 5,929,488 | 5,018,786 |
Value of lease obligation excluded from fair value of long-term debt calculation. | 57,000 | ||
Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized Premium and Discount - Net | (766) | (1,038) | |
Unamortized Debt Issuance Expense | (13,318) | (13,877) | |
Total Long-Term Debt | 1,120,916 | 1,045,085 | |
Long-term Debt, Current Maturities | 0 | 125,000 | |
Long Term Debt Excluding Amount Due Within One Year | 1,120,916 | 920,085 | |
Fair Value of Long-Term Debt | [2] | 1,086,203 | 1,087,326 |
Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized Premium and Discount - Net | (245) | (283) | |
Unamortized Debt Issuance Expense | (8,595) | (7,170) | |
Total Long-Term Debt | 448,994 | 342,880 | |
Long-term Debt, Current Maturities | 2,104 | 4,973 | |
Long Term Debt Noncurrent (Including Long Term Payable due to ELL) | 446,890 | 337,907 | |
Long Term Debt Excluding Amount Due Within One Year | 428,467 | 317,380 | |
Fair Value of Long-Term Debt | [2] | 455,459 | 351,040 |
Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized Premium and Discount - Net | (1,579) | (1,797) | |
Unamortized Debt Issuance Expense | (10,809) | (11,155) | |
Other | 4,312 | 4,843 | |
Total Long-Term Debt | 1,508,407 | 1,451,967 | |
Long-term Debt, Current Maturities | 0 | 0 | |
Long Term Debt Excluding Amount Due Within One Year | 1,508,407 | 1,451,967 | |
Fair Value of Long-Term Debt | [2] | 1,600,156 | 1,590,616 |
System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized Premium and Discount - Net | (503) | (634) | |
Unamortized Debt Issuance Expense | (1,727) | (2,062) | |
Other | 3 | 2 | |
Total Long-Term Debt | 551,132 | 572,667 | |
Long-term Debt, Current Maturities | 50,003 | 2 | |
Long Term Debt Excluding Amount Due Within One Year | 501,129 | 572,665 | |
Fair Value of Long-Term Debt | [2] | 529,520 | 552,762 |
Value of lease obligation excluded from fair value of long-term debt calculation. | $ 34,000 | ||
Mortgage Bonds Current 2016-2021 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | 4.92% | ||
Long-term Debt, Gross | $ 2,350,000 | $ 2,350,000 | |
Mortgage Bonds Current 2016-2021 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.55% | 3.25% | |
Mortgage Bonds Current 2016-2021 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | 7.125% | |
Mortgage Bonds 2022-2026 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | 3.85% | ||
Long-term Debt, Gross | $ 3,965,000 | $ 3,308,276 | |
Mortgage Bonds 2022-2026 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | 3.05% | |
Mortgage Bonds 2022-2026 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.59% | 5.66% | |
Mortgage Bonds 2028-2041 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | 3.06% | ||
Long-term Debt, Gross | $ 1,125,000 | $ 1,270,827 | |
Mortgage Bonds 2028-2041 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.85% | 5.65% | |
Mortgage Bonds 2028-2041 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 6.38% | |
Mortgage Bonds 2044-2066 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | 5.00% | ||
Long-term Debt, Gross | $ 2,960,000 | $ 1,860,000 | |
Mortgage Bonds 2044-2066 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | 4.70% | |
Mortgage Bonds 2044-2066 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.625% | 6.00% | |
Mortgage Bonds 2.40% Series Due October 2026 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | 0.00% | |
Long-term Debt, Gross | $ 400,000 | $ 0 | |
Mortgage Bonds, 2.55% Series Due June 2021 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.55% | 0.00% | |
Long-term Debt, Gross | $ 125,000 | $ 0 | |
Mortgage Bonds 2.85% Series Due June 2028 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.85% | 0.00% | |
Long-term Debt, Gross | $ 375,000 | $ 0 | |
Mortgage Bonds Three Point Zero Five Percent Series Due June Two Thousand Thirty One [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 0.00% | |
Long-term Debt, Gross | $ 325,000 | $ 0 | |
Mortgage Bonds, 3.05% Series, Due June 2023 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 3.05% | |
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Mortgage Bonds, 3.1% Series, Due July 2023 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.10% | 3.10% | |
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Mortgage Bonds, 3.25% Series, Due April 2028 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 0.00% | |
Long-term Debt, Gross | $ 425,000 | $ 0 | |
Mortgage Bonds, 3.25% Series, Due June 2016 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 3.25% | |
Long-term Debt, Gross | $ 0 | $ 125,000 | |
Mortgage Bonds, 3.3% Series, Due December 2022 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | 3.30% | |
Long-term Debt, Gross | $ 200,000 | $ 200,000 | |
Three Point Five Percent Series First Mortgage Bonds Due April Two Thousand Twenty Six [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 0.00% | |
Long-term Debt, Gross | $ 380,000 | $ 0 | |
Mortgage Bonds, 3.75% Series, Due February 2021 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% | |
Long-term Debt, Gross | $ 350,000 | $ 350,000 | |
Mortgage Bonds, 3.75% Series, Due July 2024 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% | |
Long-term Debt, Gross | $ 100,000 | $ 100,000 | |
Mortgage Bonds 3.7% Series, Due June 2024 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.70% | 3.70% | |
Long-term Debt, Gross | $ 375,000 | $ 375,000 | |
Mortgage Bonds, 3.78% Series, Due April 2025 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% | |
Long-term Debt, Gross | $ 110,000 | $ 110,000 | |
Mortgage Bonds, 3.78 % Series Due April 2025 (Legacy) [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% | |
Long-term Debt, Gross | $ 190,000 | $ 190,000 | |
Mortgage Bonds, 3.9% Series, Due July 2023 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | 3.90% | |
Long-term Debt, Gross | $ 100,000 | $ 100,000 | |
Mortgage Bonds, 3.95% Series, Due October 2020 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | 3.95% | |
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Mortgage Bonds, 4.0% Series, Due June 2026 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 0.00% | |
Long-term Debt, Gross | $ 85,000 | $ 0 | |
Mortgage Bonds, 4.05% Series, Due September 2023 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.05% | 4.05% | |
Long-term Debt, Gross | $ 325,000 | $ 325,000 | |
Mortgage Bonds, Four Point Nine Zero Percent Series, Due October Two Thousand Sixty Six [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 0.00% | |
Long-term Debt, Gross | $ 260,000 | $ 0 | |
Mortgage Bonds, 4.1% Series, Due April 2023 [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | 4.10% | |
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Mortgage Bonds, 4.1% Series, Due September 2021 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | 4.10% | |
Long-term Debt, Gross | $ 75,000 | $ 75,000 | |
Mortgage Bonds, 4.44% Series, Due January 2026 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.44% | 4.44% | |
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Mortgage Bonds, 4.7% Series, Due June 2063 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | 4.70% | |
Long-term Debt, Gross | $ 100,000 | $ 100,000 | |
Mortgage Bonds, 4.75% Series, Due June 2063 [Member] [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | 4.75% | |
Long-term Debt, Gross | $ 125,000 | $ 125,000 | |
Mortgage Bonds, 4.8% Series, Due May 2021 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.80% | 4.80% | |
Long-term Debt, Gross | $ 200,000 | $ 200,000 | |
Mortgage Bonds, Four Point Eight Seven Five Percent Series Due September Two Thousand Sixty Six [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | 0.00% | |
Long-term Debt, Gross | $ 410,000 | $ 0 | |
Mortgage Bonds, Four Point Eight Seven Five Percent Series Due September Two Thousand Sixty Six [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | 0.00% | |
Long-term Debt, Gross | $ 270,000 | $ 0 | |
Mortgage Bonds, 4.9% Series, Due December 2052 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 4.90% | |
Long-term Debt, Gross | $ 200,000 | $ 200,000 | |
Mortgage Bonds, 4.95% Series, Due December 2044 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | 4.95% | |
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Mortgage Bonds, 4.95% Series, Due January 2045 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | 4.95% | |
Long-term Debt, Gross | $ 450,000 | $ 250,000 | |
Mortgage Bonds, 5.0% Series, Due July 2044 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% | |
Long-term Debt, Gross | $ 170,000 | $ 170,000 | |
Mortgage Bonds, 5.0% Series, Due December 2052 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% | |
Long-term Debt, Gross | $ 30,000 | $ 30,000 | |
Mortgage Bonds Five Point One Five Percent Series Due June Two Thousand Forty Five [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | 5.15% | |
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Mortgage Bonds, 5.10% Series, Due December 2020 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.10% | 5.10% | |
Long-term Debt, Gross | $ 25,000 | $ 25,000 | |
Mortgage Bonds, 5.25% Series, Due July 2052 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | 5.25% | |
Long-term Debt, Gross | $ 200,000 | $ 200,000 | |
Mortgage Bonds, 5.40% Series, Due November 2024 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | 5.40% | |
Long-term Debt, Gross | $ 400,000 | $ 400,000 | |
Mortgage Bonds, 5.5% Series, Due April 2066 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 0.00% | |
Long-term Debt, Gross | $ 110,000 | $ 0 | |
Mortgage Bonds, 5.6% Series, Due September 2024 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 5.60% | |
Long-term Debt, Gross | $ 0 | $ 33,276 | |
Mortgage Bonds, 5.625% Series, Due June 2064 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.625% | 5.625% | |
Long-term Debt, Gross | $ 135,000 | $ 135,000 | |
Mortgage Bonds, 5.65% Series, Due September 2029 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 5.65% | |
Long-term Debt, Gross | $ 0 | $ 37,827 | |
Mortgage Bonds Five Point Six Six Percent Series Due February Two Thousand Twenty Five [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 5.66% | |
Long-term Debt, Gross | $ 0 | $ 175,000 | |
Mortgage Bonds, 5.75% Series, Due November 2040 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 5.75% | |
Long-term Debt, Gross | $ 0 | $ 225,000 | |
Mortgage Bonds, 5.59% Series, Due October 2024 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.59% | 5.59% | |
Long-term Debt, Gross | $ 300,000 | $ 300,000 | |
Mortgage Bonds, 5.875% Series, Due June 2041 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 5.875% | |
Long-term Debt, Gross | $ 0 | $ 150,000 | |
Mortgage Bonds, 5.9% Series, Due June 2033 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 5.90% | |
Long-term Debt, Gross | $ 0 | $ 100,000 | |
Mortgage Bonds, 6.0% Series, Due March 2040 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.00% | |
Long-term Debt, Gross | $ 0 | $ 118,000 | |
Mortgage Bonds, 6.0% Series, Due May 2018 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | |
Long-term Debt, Gross | $ 375,000 | $ 375,000 | |
Mortgage Bonds, 6.0% Series, Due May 2051 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.00% | |
Long-term Debt, Gross | $ 0 | $ 150,000 | |
Mortgage Bonds, 6.0% Series, Due November 2032 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.00% | |
Long-term Debt, Gross | $ 0 | $ 75,000 | |
Mortgage Bonds, 6.18% Series, Due March 2035 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.18% | |
Long-term Debt, Gross | $ 0 | $ 85,000 | |
Mortgage Bonds, 6.20% Series, Due April 2040 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.20% | |
Long-term Debt, Gross | $ 0 | $ 80,000 | |
Mortgage Bonds, 6.2% Series, Due July 2033 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.20% | |
Long-term Debt, Gross | $ 0 | $ 240,000 | |
Mortgage Bonds, 6.25% Series, Due April 2034 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.25% | |
Long-term Debt, Gross | $ 0 | $ 100,000 | |
Mortgage Bonds, 6.38% Series, Due November 2034 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 6.38% | |
Long-term Debt, Gross | $ 0 | $ 60,000 | |
Mortgage Bonds, 6.50%, Due September 2018 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | 6.50% | |
Long-term Debt, Gross | $ 300,000 | $ 300,000 | |
Mortgage Bonds, 6.64% Series, Due July 2019 [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.64% | 6.64% | |
Long-term Debt, Gross | $ 150,000 | $ 150,000 | |
Mortgage Bonds, 7.125% Series, Due February 2019 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | 7.125% | |
Long-term Debt, Gross | $ 500,000 | $ 500,000 | |
Mortgage Bonds [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 2,340,000 | 2,110,000 | |
Mortgage Bonds [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 5,240,000 | 4,213,000 | |
Mortgage Bonds [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 1,135,000 | 1,030,000 | |
Mortgage Bonds [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 350,000 | 226,103 | |
Mortgage Bonds [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 1,085,000 | 960,000 | |
Mortgage Bonds [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |
Governmental Bonds 2017-2021 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | [3] | 2.22% | |
Debt Instrument, Interest Rate, Stated Percentage | 1.55% | ||
Long-term Debt, Gross | [3] | $ 99,700 | $ 99,700 |
Governmental Bonds 2017-2021 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.55% | ||
Governmental Bonds 2017-2021 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | 2.375% | |
Governmental Bonds 2022-2030 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | [3] | 3.98% | |
Long-term Debt, Gross | [3] | $ 332,680 | $ 384,680 |
Governmental Bonds 2022-2030 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | 4.90% | |
Governmental Bonds 2022-2030 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | 5.875% | |
Governmental Bonds, 1.55% Series, Due 2017, Jefferson County [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4],[5] | 1.55% | 1.55% |
Long-term Debt, Gross | [4],[5] | $ 54,700 | $ 54,700 |
Governmental Bonds, 2.38% Series, Due 2021, One Independence County [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [4],[5] | $ 45,000 | $ 45,000 |
Governmental Bonds Two Point Three Seven Five Percent Series Due Two Thousand Twenty One Independence County [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4],[5] | 2.375% | 2.375% |
Governmental Bonds, 3.50% Series, Due 2030, Louisiana Public Facilities Authority [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4],[5] | 3.50% | 0.00% |
Long-term Debt, Gross | [4],[5] | $ 115,000 | $ 0 |
Governmental Bonds, 4.90% Series, Due 2022, Independence County [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4],[5] | 0.00% | 4.90% |
Long-term Debt, Gross | [4],[5] | $ 0 | $ 30,000 |
Governmental Bonds, 5.0% Series, Due 2028, Louisiana Public Facilities Autority [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4],[5] | 0.00% | 5.00% |
Long-term Debt, Gross | [4],[5] | $ 0 | $ 83,680 |
Governmental Bonds, 5.0% Series, Due 2030, Louisiana Public Facilities Authority [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4],[5] | 0.00% | 5.00% |
Long-term Debt, Gross | [4],[5] | $ 0 | $ 115,000 |
Governmental Bonds, 5.875% Series, Due 2022, Mississippi Business Finance Corp. [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4] | 5.875% | 5.875% |
Long-term Debt, Gross | [4] | $ 134,000 | $ 156,000 |
Governmental Bonds, 3.375% Series, Due 2028, Louisiana Public Facilities Authority [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [4],[5] | 3.375% | 0.00% |
Long-term Debt, Gross | [4],[5] | $ 83,680 | $ 0 |
Governmental Bonds [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [4] | 99,700 | 99,700 |
Governmental Bonds [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [4] | 198,680 | 198,680 |
Governmental Bonds [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [4] | 0 | 30,000 |
Governmental Bonds [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [4] | $ 134,000 | 156,000 |
Securitization Bonds 2018-2024 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | 3.90% | ||
Long-term Debt, Gross | $ 669,310 | $ 784,340 | |
Securitization Bonds 2018-2024 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% | |
Securitization Bonds 2018-2024 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.93% | 5.93% | |
VIE Notes Payable 2016-2023 [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | 3.47% | ||
Long-term Debt, Gross | $ 555,000 | $ 570,600 | |
VIE Notes Payable 2016-2023 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.62% | 1.38% | |
VIE Notes Payable 2016-2023 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.02% | 4.02% | |
Variable Interest Entity Notes Payable, 2.62% Series K, Due December 2017 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.62% | 2.62% | |
Long-term Debt, Gross | $ 60,000 | $ 60,000 | |
Variable Interest Entity Notes Payable, 3.17% Series M, Due December 2023 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.17% | 0.00% | |
Long-term Debt, Gross | $ 40,000 | $ 0 | |
Variable Interest Entity Notes Payable, 3.23% Percent Series J, Due July 2016 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 3.23% | |
Long-term Debt, Gross | $ 0 | $ 55,000 | |
Variable Interest Entity Notes Payable, 3.25% Series Q, Due July 2017 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 3.25% | |
Long-term Debt, Gross | $ 75,000 | $ 75,000 | |
Variable Interest Entity Notes Payable, 3.25% Series G, Due July 2017 [Member | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 3.25% | |
Long-term Debt, Gross | $ 25,000 | $ 25,000 | |
Variable Interest Entity Notes Payable, 3.22 % Series I, Due December 2023 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.22% | 0.00% | |
Long-term Debt, Gross | $ 20,000 | $ 0 | |
Variable Interest Entity Notes Payable, 3.30% Series F, Due March 2016 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 3.30% | |
Long-term Debt, Gross | $ 0 | $ 20,000 | |
Variable Interest Entity Notes Payable, 3.38% Series R, Due August 2020 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.38% | 3.38% | |
Long-term Debt, Gross | $ 70,000 | $ 70,000 | |
Variable Interest Entity Notes Payable, 3.65% Series L, Due July 2021 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.65% | 3.65% | |
Long-term Debt, Gross | $ 90,000 | $ 90,000 | |
Variable Interest Entity Notes Payable, 3.78% Series I, Due October 2018 [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% | |
Long-term Debt, Gross | $ 85,000 | $ 85,000 | |
Variable Interest Entity Notes Payable, Three Point Ninety Two Percent Series H Due February Two Thousand Twenty One [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | 3.92% | |
Long-term Debt, Gross | $ 40,000 | $ 40,000 | |
Variable Interest Entity Notes Payable, 4.02% Series H, Due February Two Thousand Seventeen [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.02% | 4.02% | |
Long-term Debt, Gross | $ 50,000 | $ 50,000 | |
Credit Facility Due June 2016, weighted avg rate 1.38% [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 1.38% | |
Long-term Debt, Gross | $ 0 | $ 600 | |
Variable Interest Entity Notes Payable [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 190,000 | 205,000 | |
Variable Interest Entity Notes Payable [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 230,000 | 230,600 | |
Variable Interest Entity Notes Payable [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 135,000 | $ 135,000 | |
Securitization Bonds, 2.04% Series Senior Secured, Due June 2021 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% | |
Long-term Debt, Gross | $ 100,972 | $ 122,568 | |
Securitization Bonds, 2.30% Series Senior Secured, Due August 2021 [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | 2.30% | |
Long-term Debt, Gross | $ 49,548 | $ 62,966 | |
Securitization Bonds, 2.67% Series Senior Secured, Due June 2024 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.67% | 2.67% | |
Long-term Debt, Gross | $ 87,307 | $ 98,730 | |
Securitization Bonds, 3.65% Series Senior Secured, Due August 2019 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.65% | 3.65% | |
Long-term Debt, Gross | $ 74,899 | $ 117,462 | |
Securitization Bonds, 4.38% Series Senior Secured, Due November 2023 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.38% | 4.38% | |
Long-term Debt, Gross | $ 218,600 | $ 218,600 | |
Securitization Bonds, 5.79% Series Senior Secured, Series A, Due October 2018 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.79% | 5.79% | |
Long-term Debt, Gross | $ 23,584 | $ 49,614 | |
Securitization Bonds, 5.93% Series Senior Secured, Series A, Due June 2022 [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.93% | 5.93% | |
Long-term Debt, Gross | $ 114,400 | $ 114,400 | |
Securitization Bonds [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 49,548 | 62,966 | |
Securitization Bonds [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 100,972 | 122,568 | |
Securitization Bonds [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 87,307 | 98,730 | |
Securitization Bonds [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 431,483 | $ 500,076 | |
Entergy Corporation Notes Due January Two Thousand Seventeen[Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 4.70% | |
Long-term Debt, Gross | $ 0 | $ 500,000 | |
Entergy Corporation Notes Due September 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.125% | 5.125% | |
Long-term Debt, Gross | $ 450,000 | $ 450,000 | |
Entergy Corporation Notes Due July Two Thousand Twenty Two [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | |
Long-term Debt, Gross | $ 650,000 | $ 650,000 | |
Entergy Corporation Notes Due September Two Thousand Twenty Six [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | 0.00% | |
Long-term Debt, Gross | $ 750,000 | $ 0 | |
Note Payable To NYPA [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | ||
Long-term Debt, Gross | [6] | $ 0 | $ 34,259 |
Implicit interest rate | 4.80% | ||
Vermont Yankee Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.17% | 2.08% | |
Long-term Debt, Gross | $ 44,500 | $ 12,000 | |
5 Year Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.23% | 1.98% | |
Long-term Debt, Gross | $ 700,000 | $ 835,000 | |
Long-Term DOE Obligation [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [7] | 181,853 | 181,378 |
Long-Term DOE Obligation [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [8] | $ 181,853 | $ 181,378 |
Waterford 3 Lease Obligation [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [9] | 8.09% | 7.45% |
Long-term Debt, Gross | [9] | $ 57,492 | $ 108,965 |
Waterford 3 Lease Obligation [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.09% | ||
Long-term Debt, Gross | $ 57,492 | $ 108,965 | |
Implicit interest rate | 7.45% | ||
Waterford Series Collateral Trust Mortgage Notes due 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | [9] | 42,703 | $ 0 |
Waterford Series Collateral Trust Mortgage Notes due 2017 [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 42,703 | $ 0 | |
Implicit interest rate | 7.458% | ||
Grand Gulf Lease Obligation [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | [9] | 5.13% | 5.13% |
Long-term Debt, Gross | [9] | $ 34,359 | $ 34,361 |
Grand Gulf Lease Obligation, 5.13% [Member] | System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.13% | 5.13% | |
Long-term Debt, Gross | $ 34,359 | $ 34,361 | |
Payable to Entergy Louisiana due November 2035 [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 20,527 | $ 25,500 | |
[1] | The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||
[2] | The fair value excludes lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy and long-term DOE obligations of $182 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||
[3] | Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral first mortgage bonds. | ||
[4] | Consists of pollution control revenue bonds and environmental revenue bonds. | ||
[5] | The bonds are secured by a series of collateral mortgage bonds. | ||
[6] | These notes do not have a stated interest rate, but have an implicit interest rate of 4.8%. | ||
[7] | Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. | ||
[8] | Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. | ||
[9] | See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation |
Long - Term Debt (Schedule Of M
Long - Term Debt (Schedule Of Maturities Of Long-term Debt) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Year One | $ 307,403 |
Year Two | 828,084 |
Year Three | 724,899 |
Year Four | 795,000 |
Year Five | 1,674,548 |
Entergy Arkansas [Member] | |
Year One | 114,700 |
Year Two | 0 |
Year Three | 0 |
Year Four | 0 |
Year Five | 534,548 |
Entergy Louisiana [Member] | |
Year One | 142,703 |
Year Two | 675,000 |
Year Three | 0 |
Year Four | 320,000 |
Year Five | 240,000 |
Entergy Mississippi [Member] | |
Year One | 0 |
Year Two | 0 |
Year Three | 150,000 |
Year Four | 0 |
Year Five | 0 |
Entergy New Orleans [Member] | |
Year One | 2,104 |
Year Two | 2,077 |
Year Three | 1,979 |
Year Four | 26,838 |
Year Five | 1,618 |
Entergy Texas [Member] | |
Year One | 0 |
Year Two | 23,584 |
Year Three | 574,899 |
Year Four | 0 |
Year Five | 200,000 |
System Energy [Member] | |
Year One | 50,000 |
Year Two | 85,000 |
Year Three | 0 |
Year Four | 0 |
Year Five | $ 0 |
Long - Term Debt (Schedule Of S
Long - Term Debt (Schedule Of Senior Secured Transition Bonds) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Nov. 30, 2009 | Jun. 30, 2007 | |
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 661,175 | $ 774,696 | ||
Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | 429,043 | $ 497,030 | ||
Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | 329,500 | $ 329,500 | ||
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | 545,900 | $ 545,900 | ||
Tranche A-1 (2.12%) Due February 2016 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 182,500 | |||
Coupon rate of senior secured transition bonds | 2.12% | |||
Tranche A-1 (5.51%) Due October 2013 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 93,500 | |||
Coupon rate of senior secured transition bonds | 5.51% | |||
Tranche A-2 (3.65%) Due August 2019 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 144,800 | |||
Coupon rate of senior secured transition bonds | 3.65% | |||
Tranche A-2 (5.79%) Due October 2018 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 121,600 | |||
Coupon rate of senior secured transition bonds | 5.79% | |||
Tranche A-3 (5.93%) Due June 2022 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 114,400 | |||
Coupon rate of senior secured transition bonds | 5.93% | |||
Tranche A-3 (4.38%) Due November 2023 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 218,600 | |||
Coupon rate of senior secured transition bonds | 4.38% |
Preferred Equity (Narratives) (
Preferred Equity (Narratives) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Oct. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2016 | ||
Preferred Stock, 8.75% Rate [Member] | Entergy Finance Holding Inc [Member] | ||||
Preferred Equity [Line Items] | ||||
Preferred stock/preferred membership interests rate | 8.75% | 8.75% | [1] | |
Temporary Equity, Shares Issued | 250,000 | |||
Temporary Equity, Par Value | $ 100 | |||
Temporary Equity, Redemption Price Per Share | $ 100 | |||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 751,000 | |||
Preferred Stock, Cumulative $100 Par Value, 4.72% Series [Member] | Entergy Arkansas [Member] | ||||
Preferred Equity [Line Items] | ||||
Preferred stock/preferred membership interests rate | 4.72% | |||
Preferred Stock, Cumulative $100 Par Value, 4.75% Series [Member] | Entergy New Orleans [Member] | ||||
Preferred Equity [Line Items] | ||||
Preferred stock/preferred membership interests rate | 4.75% | |||
Preferred Stock, Cumulative One Thousand Dollar Par Value, Seven Point Five Percent Series [Member] | Entergy Utility Holding Company LLC [Member] | ||||
Preferred Equity [Line Items] | ||||
Preferred stock/preferred membership interests rate | 7.50% | 7.50% | [1] | |
Temporary Equity, Shares Issued | 110,000 | |||
Temporary Equity, Par Value | $ 1,000 | |||
Temporary Equity, Redemption Price Per Share | $ 1,000 | |||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 2,575,000 | |||
[1] | Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. |
Preferred Equity (Schedule Of N
Preferred Equity (Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Oct. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Preferred Stock, Shares Authorized | 1,075,105 | 5,375,105 | ||||
Preferred Stock, Shares Outstanding | 1,075,105 | 5,375,105 | ||||
Preferred Stock, Value | $ 203,185 | $ 318,185 | ||||
Preferred Shares/Units, Authorized | 825,105 | 5,125,105 | ||||
Preferred Shares/Units, Outstanding | 825,105 | 5,125,105 | ||||
Preferred Shares/Units, Value | $ 178,936 | $ 293,936 | ||||
Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 313,500 | 3,413,500 | ||||
Preferred Stock, Value | $ 31,350 | $ 116,350 | ||||
Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 203,807 | 1,403,807 | ||||
Preferred Stock, Value | $ 20,381 | $ 50,381 | ||||
Entergy New Orleans [Member] | ||||||
Preferred Stock, Shares Outstanding | 197,798 | 197,798 | ||||
Preferred Stock, Value | $ 19,780 | $ 19,780 | ||||
Preferred Stock, 4.32% - 6.45% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Shares/Units, Authorized | 313,500 | 3,413,500 | ||||
Preferred Shares/Units, Outstanding | 313,500 | 3,413,500 | ||||
Preferred Shares/Units, Value | $ 31,350 | $ 116,350 | ||||
Preferred Stock, 4.36% - 6.25% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Shares/Units, Authorized | 203,807 | 1,403,807 | ||||
Preferred Shares/Units, Outstanding | 203,807 | 1,403,807 | ||||
Preferred Shares/Units, Value | $ 20,381 | $ 50,381 | ||||
Preferred Stock, 4.36% - 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Shares/Units, Authorized | 197,798 | 197,798 | ||||
Preferred Shares/Units, Outstanding | 197,798 | 197,798 | ||||
Preferred Shares/Units, Value | $ 19,780 | $ 19,780 | ||||
Preferred Stock, 8.75% Rate [Member] | Entergy Finance Holding Inc [Member] | ||||||
Preferred Stock, Shares Authorized | [1] | 250,000 | 250,000 | |||
Preferred Stock, Shares Outstanding | [1] | 250,000 | 250,000 | |||
Preferred Stock, Value | [1] | $ 24,249 | $ 24,249 | |||
Preferred stock/preferred membership interests rate | 8.75% | 8.75% | [1] | |||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 751 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.32% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 70,000 | 70,000 | ||||
Preferred Stock, Value | $ 7,000 | $ 7,000 | ||||
Preferred Stock, Call Price per Share | $ 103.65 | |||||
Preferred stock/preferred membership interests rate | 4.32% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.72% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 93,500 | 93,500 | ||||
Preferred Stock, Value | $ 9,350 | $ 9,350 | ||||
Preferred Stock, Call Price per Share | $ 107 | |||||
Preferred stock/preferred membership interests rate | 4.72% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.36% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 59,920 | 59,920 | ||||
Preferred Stock, Value | $ 5,992 | $ 5,992 | ||||
Preferred Stock, Call Price per Share | $ 103.86 | |||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.36% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Stock, Shares Outstanding | 60,000 | 60,000 | ||||
Preferred Stock, Value | $ 6,000 | $ 6,000 | ||||
Preferred Stock, Call Price per Share | $ 104.58 | |||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.56% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 75,000 | 75,000 | ||||
Preferred Stock, Value | $ 7,500 | $ 7,500 | ||||
Preferred Stock, Call Price per Share | $ 102.83 | |||||
Preferred stock/preferred membership interests rate | 4.56% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.56% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 43,887 | 43,887 | ||||
Preferred Stock, Value | $ 4,389 | $ 4,389 | ||||
Preferred Stock, Call Price per Share | $ 107 | |||||
Preferred stock/preferred membership interests rate | 4.56% | |||||
Preferred Stock, Cumulative $100 Par Value, 4.56% 1965 Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 75,000 | 75,000 | ||||
Preferred Stock, Value | $ 7,500 | $ 7,500 | ||||
Preferred Stock, Call Price per Share | $ 102.50 | |||||
Preferred stock/preferred membership interests rate | 4.56% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 6.08% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 0 | 100,000 | ||||
Preferred Stock, Value | $ 0 | $ 10,000 | ||||
Preferred Stock, Call Price per Share | $ 0 | |||||
Preferred stock/preferred membership interests rate | 6.08% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $25 Par Value, 6.45% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 0 | 3,000,000 | ||||
Preferred Stock, Value | $ 0 | $ 75,000 | ||||
Preferred Stock, Call Price per Share | $ 0 | |||||
Preferred stock/preferred membership interests rate | 6.45% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 25 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.92% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 100,000 | 100,000 | ||||
Preferred Stock, Value | $ 10,000 | $ 10,000 | ||||
Preferred Stock, Call Price per Share | $ 102.88 | |||||
Preferred stock/preferred membership interests rate | 4.92% | |||||
Preferred Stock, Cumulative $25 Par Value, 6.25% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 0 | 1,200,000 | ||||
Preferred Stock, Value | $ 0 | $ 30,000 | ||||
Preferred Stock, Call Price per Share | $ 0 | |||||
Preferred stock/preferred membership interests rate | 6.25% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 25 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.75% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Stock, Shares Outstanding | 77,798 | 77,798 | ||||
Preferred Stock, Value | $ 7,780 | $ 7,780 | ||||
Preferred Stock, Call Price per Share | $ 105 | |||||
Preferred stock/preferred membership interests rate | 4.75% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Stock, Shares Outstanding | 60,000 | 60,000 | ||||
Preferred Stock, Value | $ 6,000 | $ 6,000 | ||||
Preferred Stock, Call Price per Share | $ 102.59 | |||||
Preferred stock/preferred membership interests rate | 5.56% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative One Thousand Dollar Par Value, Seven Point Five Percent Series [Member] | Entergy Utility Holding Company LLC [Member] | ||||||
Preferred Shares/Units, Authorized | [2] | 110,000 | 110,000 | |||
Preferred Shares/Units, Outstanding | [2] | 110,000 | 110,000 | |||
Preferred Shares/Units, Value | [2] | $ 107,425 | $ 107,425 | |||
Preferred stock/preferred membership interests rate | 7.50% | 7.50% | [1] | |||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 2,575 | |||||
Minimum [Member] | Preferred Stock, 4.32% - 6.45% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.32% | |||||
Minimum [Member] | Preferred Stock, 4.36% - 6.25% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Minimum [Member] | Preferred Stock, 4.36% - 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Maximum [Member] | Preferred Stock, 4.32% - 6.45% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred stock/preferred membership interests rate | 6.45% | |||||
Maximum [Member] | Preferred Stock, 4.36% - 6.25% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred stock/preferred membership interests rate | 6.25% | |||||
Maximum [Member] | Preferred Stock, 4.36% - 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred stock/preferred membership interests rate | 5.56% | |||||
[1] | Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. | |||||
[2] | Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. |
Common Equity (Narrative) (Deta
Common Equity (Narrative) (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Oct. 31, 2010USD ($) | Dec. 31, 2016USD ($)plan$ / shares | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / shares | |
Number of equity ownership plans | plan | 3 | |||
Authorization of repurchase of common stock | $ 500,000 | $ 350,000 | ||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 3.42 | $ 3.34 | $ 3.32 | |
Dividend payments received from subsidiaries | $ 165,000 | $ 615,000 | $ 893,000 | |
Dividends, Common Stock, Cash | $ (611,835) | 598,897 | 596,117 | |
Entergy Arkansas [Member] | ||||
Dividends, Common Stock, Cash | 10,000 | |||
Ratio of Common Stock Equity to Total Capitalization Which Could Result In Restriction of Dividends | 25.00% | |||
Entergy Mississippi [Member] | ||||
Dividends, Common Stock, Cash | $ 24,000 | 40,000 | 61,400 | |
Ratio of Common Stock Equity to Total Capitalization Which Could Result In Restriction of Dividends | 25.00% | |||
System Energy [Member] | ||||
Dividends, Common Stock, Cash | $ 139,000 | 200,750 | 101,930 | |
Entergy New Orleans [Member] | ||||
Dividends, Common Stock, Cash | $ 18,720 | 7,250 | 6,000 | |
Ratio of Common Stock Equity to Total Capitalization Which Could Result In Restriction of Dividends | 25.00% | |||
Common Stock [Member] | ||||
Dividends, Common Stock, Cash | $ 0 | 0 | 0 | |
Common Stock [Member] | Entergy Arkansas [Member] | ||||
Dividends, Common Stock, Cash | 0 | |||
Common Stock [Member] | Entergy Mississippi [Member] | ||||
Dividends, Common Stock, Cash | 0 | 0 | 0 | |
Common Stock [Member] | System Energy [Member] | ||||
Dividends, Common Stock, Cash | 40,000 | 70,000 | 0 | |
Common Stock [Member] | Entergy New Orleans [Member] | ||||
Dividends, Common Stock, Cash | $ 0 | $ 0 | $ 0 |
Common Equity (Common Stock And
Common Equity (Common Stock And Treasury Stock Shares Activity) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Common Stock [Member] | |||
Common Stock And Treasury Stock [Roll Forward] | |||
Beginning Balance | 254,752,788 | 254,752,788 | 254,752,788 |
Ending Balance | 254,752,788 | 254,752,788 | 254,752,788 |
Treasury Stock [Member] | |||
Common Stock And Treasury Stock [Roll Forward] | |||
Beginning Balance | 76,363,763 | 75,512,079 | 76,381,936 |
Repurchases | 0 | 1,468,984 | 2,154,490 |
Employee Stock-Based Compensation Plans | (729,073) | (610,409) | (3,019,475) |
Directors' Plan | (11,327) | (6,891) | (4,872) |
Ending Balance | 75,623,363 | 76,363,763 | 75,512,079 |
Common Equity (Changes in Accum
Common Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | $ (43,922) | $ 51,258 | $ (12,983) |
Amounts reclassified from accumulated other comprehensive income (loss) | (171,850) | 166,771 | |
Other comprehensive income (loss) before reclassifications | 127,928 | (115,513) | |
Accumulated other comprehensive loss, Beginning Balance | (34,971) | 8,951 | (42,307) |
Cash flow hedges net unrealized gain (loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | (101,977) | 7,852 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (189,717) | 159,592 | |
Other comprehensive income (loss) before reclassifications | 87,740 | (151,740) | |
Accumulated other comprehensive loss, Beginning Balance | 3,993 | 105,970 | 98,118 |
Pension and other postretirement liabilities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | (2,842) | 103,185 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 24,155 | 32,131 | |
Other comprehensive income (loss) before reclassifications | (26,997) | 71,054 | |
Accumulated other comprehensive loss, Beginning Balance | (469,446) | (466,604) | (569,789) |
Net unrealized investment gains [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | 62,177 | (59,138) | |
Amounts reclassified from accumulated other comprehensive income (loss) | (6,288) | (24,952) | |
Other comprehensive income (loss) before reclassifications | 68,465 | (34,186) | |
Accumulated other comprehensive loss, Beginning Balance | 429,734 | 367,557 | 426,695 |
Foreign currency translation [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | (1,280) | (641) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | |
Other comprehensive income (loss) before reclassifications | (1,280) | (641) | |
Accumulated other comprehensive loss, Beginning Balance | 748 | 2,028 | 2,669 |
Entergy Louisiana [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | 7,970 | 22,811 | (41,386) |
Accumulated other comprehensive loss, Beginning Balance | (48,442) | (56,412) | |
Entergy Louisiana [Member] | Pension and other postretirement liabilities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | 7,970 | 22,811 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (956) | 1,631 | |
Other comprehensive income (loss) before reclassifications | 8,926 | 21,180 | |
Accumulated other comprehensive loss, Beginning Balance | $ (48,442) | $ (56,412) | $ (79,223) |
Common Equity (Reclassification
Common Equity (Reclassifications from Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | $ (1,045) | $ (374) | ||||||||||||
Miscellaneous - net | (41,617) | (95,997) | $ (42,016) | |||||||||||
Total reclassifications before taxes | (1,381,762) | (799,661) | 1,549,854 | |||||||||||
Investment Income, Net | 145,127 | 187,062 | 147,686 | |||||||||||
Income Tax Expense (Benefit) | (817,259) | (642,927) | 589,597 | |||||||||||
Consolidated net income (loss) | $ (1,765,539) | $ 393,204 | $ 572,590 | $ 235,242 | $ 104,849 | $ (718,233) | $ 153,722 | $ 302,929 | (564,503) | [1] | (156,734) | [1] | 960,257 | [1] |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Consolidated net income (loss) | 171,850 | (166,771) | ||||||||||||
Cash flow hedges net unrealized gain (loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Total reclassifications before taxes | 291,873 | (245,526) | ||||||||||||
Income Tax Expense (Benefit) | 102,156 | (85,934) | ||||||||||||
Consolidated net income (loss) | 189,717 | (159,592) | ||||||||||||
Pension and other postretirement liabilities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Total reclassifications before taxes | (34,331) | (48,151) | ||||||||||||
Amortization of prior service cost/(credit) | 29,414 | 23,920 | ||||||||||||
Acceleration of prior service cost due to curtailment | (1,045) | (374) | ||||||||||||
Amortization of net loss | (60,693) | (70,296) | ||||||||||||
Settlement loss | (2,007) | (1,401) | ||||||||||||
Income Tax Expense (Benefit) | (10,176) | (16,020) | ||||||||||||
Consolidated net income (loss) | (24,155) | (32,131) | ||||||||||||
Net unrealized investment gains [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Investment Income, Net | 12,329 | 48,926 | ||||||||||||
Income Tax Expense (Benefit) | 6,041 | 23,974 | ||||||||||||
Consolidated net income (loss) | 6,288 | 24,952 | ||||||||||||
Power Contract [Member] | Cash flow hedges net unrealized gain (loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Revenues | 293,268 | (243,555) | ||||||||||||
Interest Rate Swap [Member] | Cash flow hedges net unrealized gain (loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Miscellaneous - net | (1,395) | (1,971) | ||||||||||||
Entergy Louisiana [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Miscellaneous - net | (11,597) | (13,190) | 850 | |||||||||||
Total reclassifications before taxes | 711,781 | 625,310 | 631,074 | |||||||||||
Investment Income, Net | 154,778 | 150,168 | 134,885 | |||||||||||
Income Tax Expense (Benefit) | 89,734 | 178,671 | 185,052 | |||||||||||
Consolidated net income (loss) | $ 67,610 | $ 189,506 | $ 253,325 | $ 111,606 | $ 24,409 | $ 187,140 | $ 108,981 | $ 126,109 | 622,047 | 446,639 | $ 446,022 | |||
Entergy Louisiana [Member] | Pension and other postretirement liabilities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 7,786 | 7,464 | ||||||||||||
Total reclassifications before taxes | 1,505 | (2,690) | ||||||||||||
Defined Benefit Plan, Amortization of Gains (Losses) | (6,281) | (10,140) | ||||||||||||
Settlement loss | 0 | (14) | ||||||||||||
Income Tax Expense (Benefit) | 549 | (1,059) | ||||||||||||
Consolidated net income (loss) | $ 956 | $ (1,631) | ||||||||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Commitments And Contingencies85
Commitments And Contingencies (Narrative) (Details) | Jun. 30, 2016USD ($) | Jan. 31, 2017USD ($) | Nov. 30, 2016USD ($) | Oct. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Aug. 31, 2016USD ($) | Jul. 31, 2016USD ($) | May 31, 2016USD ($) | Apr. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Oct. 31, 2014USD ($) | Feb. 28, 2014USD ($) | Dec. 31, 1988transaction | Dec. 31, 2016USD ($)programclaimplaintiffreactorMW | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) |
Commitments And Contingencies [Line Items] | |||||||||||||||||
Accidental Outage Coverage Weekly Indemnity Payment Period | 364 days | ||||||||||||||||
Accidental Outage Coverage Weekly Indemnity Final Payment Period | 406 days | ||||||||||||||||
Proceeds from insurance | $ 20,968,000 | $ 24,399,000 | $ 40,670,000 | ||||||||||||||
Number of financial protection programs | program | 2 | ||||||||||||||||
Insurance coverage for public liability by American Nuclear Insurers | $ 450,000,000 | ||||||||||||||||
Maximum retrospective insurance premium obligation per reactor per incident | 127,300,000 | ||||||||||||||||
Maximum retrospective insurance premium obligation per incident | 1,273,000,000 | ||||||||||||||||
Rate of maximum retrospective premium per year per nuclear power reactor | 19,000,000 | ||||||||||||||||
ANI combined with Secondary Financial Protection Coverage | 13,000,000,000 | ||||||||||||||||
Additional damage coverage for a terrorist event | $ 100,000,000,000 | ||||||||||||||||
Number of nuclear reactor included in the Secondary Financial Protection program | reactor | 102 | ||||||||||||||||
Total premium for reactor under secondary financial protection program | $ 13,000,000,000 | ||||||||||||||||
Ownership percentage by a non-affiliated company | 10.00% | ||||||||||||||||
Maximum recovery nuclear insurance policies for property damage caused by Terrorist Act | $ 3,240,000,000 | ||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 400,000,000 | ||||||||||||||||
Minimum value of power plants, substations to be covered under conventional property insurance | 5,000,000 | ||||||||||||||||
Purchase of terrorism insurance coverage | 300,000,000 | ||||||||||||||||
Amount of additional insurance coverage per occurrence | 20,000,000 | ||||||||||||||||
Value of properties that do not qualify for low deductible | $ 20,000,000 | ||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Period has Passed | 100.00% | ||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Second Period has Passed | 80.00% | ||||||||||||||||
Insurance coverage for public liability prior to January 1, 2017 | $ 375,000,000 | ||||||||||||||||
Accidental Outage Coverage Weekly Indemnity Second Payment Period | 364 days | ||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Final Period has Passed | 80.00% | ||||||||||||||||
Pilgrim [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Capacity Supply Obligations in ISO New England | MW | 677 | ||||||||||||||||
Vermont Yankee [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Insurance coverage for public liability by American Nuclear Insurers | $ 100,000,000 | ||||||||||||||||
Operational Perils [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Self-insured retention per occurrence | 20,000,000 | ||||||||||||||||
Flooding Or Property Value Greater Than 20 Million [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Deductible after additional coverage purchased | 500,000 | ||||||||||||||||
Earthquake and Flood [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 400,000,000 | ||||||||||||||||
Self-insured retention per occurrence | 40,000,000 | ||||||||||||||||
Named Windstorm and Associated Storm Surge [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 125,000,000 | ||||||||||||||||
Self-insured retention per occurrence | 40,000,000 | ||||||||||||||||
Non-Nuclear and Non-Radioactive Damage [Member] | Fitzpatrick And Pilgrim [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||
Accidental Outage Coverage Program [Member] | Nuclear Plants [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 327,600,000 | ||||||||||||||||
Accidental Outage Coverage Program [Member] | Waterford 3 [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 327,600,000 | ||||||||||||||||
Accidental Outage Coverage Program [Member] | Grand Gulf [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 327,600,000 | ||||||||||||||||
Flood, Earthquake and Volcanic Eruption [Member] | Fitzpatrick And Pilgrim [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||
Flood, Earthquake and Volcanic Eruption [Member] | Indian Point [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||
Flood, Earthquake and Volcanic Eruption [Member] | River Bend and Waterford 3 [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||
Minimum [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Deductible after additional coverage purchased | 100,000 | ||||||||||||||||
Maximum [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Deductible after additional coverage purchased | 250,000 | ||||||||||||||||
Utility Plants [Member] | Primary Layer [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 1,500,000,000 | ||||||||||||||||
Utility Plants [Member] | Blanket Layer [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 100,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Pilgrim [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Carrying Value of Nuclear Plant | $ 718,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | FitzPatrick [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Carrying Value of Nuclear Plant | $ 742,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Palisades [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Carrying Value of Nuclear Plant | $ 859,000,000 | 859,000,000 | |||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 1,600,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Big Rock Point [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 500,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Indian Point [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 1,500,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Fitzpatrick, Pilgrim, and Palisades [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 1,115,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Vermont Yankee [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 50,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Excess Layer [Member] | Indian Point [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Property Insurance insured amount per occurrence | 100,000,000 | ||||||||||||||||
Nuclear [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Deductible after additional coverage purchased | 2,500,000 | ||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
MPSC authorized deferral of other operation and maintenance expenses | $ 6,000,000 | ||||||||||||||||
Proceeds from insurance | $ 0 | 12,932,000 | 0 | ||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 33.00% | ||||||||||||||||
Average monthly payments under unit power sales agreement | $ 14,300,000 | ||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 31.30% | ||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||
Allocated amortization cost in percentage | 43.97% | ||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Number of asbestos lawsuits | claim | 80 | ||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||
System Energy [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Number of nuclear power reactors | reactor | 1 | ||||||||||||||||
System Energy [Member] | Grand Gulf [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Number of sale leaseback transactions | transaction | 2 | ||||||||||||||||
System Energy [Member] | Grand Gulf [Member] | |||||||||||||||||
Commitments And Contingencies [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 | ||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 19,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | 5,000,000 | ||||||||||||||||
Plant balance reduction | 11,000,000 | ||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Number of asbestos lawsuits | claim | 80 | ||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 17.00% | ||||||||||||||||
Average monthly payments under unit power sales agreement | $ 8,100,000 | ||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 24.70% | ||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||
Allocated amortization cost in percentage | 29.80% | ||||||||||||||||
Entergy New Orleans [Member] | Flood, Earthquake and Named Windstorm [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | $ 50,000,000 | ||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Payments made under purchased power agreement | $ 158,700,000 | 146,000,000 | 152,800,000 | ||||||||||||||
Required energy for the production of Vidalia project in percentage | 94.00% | ||||||||||||||||
Estimated Payments Under Purchased Power Agreement in Next Twelve Months | $ 129,000,000 | ||||||||||||||||
Estimated Payments Under Purchased Power Agreement in Year Two and Thereafter | 1,810,000,000 | ||||||||||||||||
Credit rates agreed by subsidiary for each year under settlement related to tax benefits from tax treatment of purchased power agreement | $ 11,000,000 | ||||||||||||||||
Number of years for which credit rates agreed by subsidiary under settlement related to tax benefits from the tax treatment of purchased power agreement | 10 years | ||||||||||||||||
Amount of remaining benefits of tax credit by crediting rate payers | $ 20,235,000 | ||||||||||||||||
Maximum period up to which remaining benefit of tax accounting election shared | 15 years | ||||||||||||||||
Proceeds from insurance | $ 10,564,000 | 0 | 0 | ||||||||||||||
Number of nuclear power reactors | reactor | 2 | ||||||||||||||||
Number of asbestos lawsuits | claim | 80 | ||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 14.00% | ||||||||||||||||
Average monthly payments under unit power sales agreement | $ 6,700,000 | ||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 26.90% | ||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||
Allocated amortization cost in percentage | 26.23% | ||||||||||||||||
Entergy Louisiana [Member] | Waterford 3 [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Litigation Settlement, Amount | 53,000,000 | ||||||||||||||||
Damages awarded for previously capitalized costs | $ 41,000,000 | ||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | ||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 10,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | $ 3,000,000 | ||||||||||||||||
Entergy Louisiana [Member] | River Bend [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Litigation Settlement, Amount | $ 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 | ||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 23,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | 3,000,000 | ||||||||||||||||
Plant balance reduction | $ 14,000,000 | ||||||||||||||||
Entergy Louisiana [Member] | Subsequent Event [Member] | River Bend [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Damages awarded for previously recorded operation and maintenance | $ 3,000,000 | ||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 2,000,000 | ||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Estimated cost to restore ANO to service | $ 95,000,000 | ||||||||||||||||
Deferred Fuel and Purchased Energy Costs Excluded From Revised Energy Cost Rate | $ 65,900,000 | ||||||||||||||||
Proceeds From Insurance Settlement, Operating and Investing Activities | 50,000,000 | ||||||||||||||||
Proceeds from insurance | $ 10,404,000 | 11,654,000 | $ 36,600,000 | ||||||||||||||
Number of nuclear power reactors | reactor | 2 | ||||||||||||||||
Number of asbestos lawsuits | claim | 80 | ||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 36.00% | ||||||||||||||||
Average monthly payments under unit power sales agreement | $ 16,700,000 | ||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 17.10% | ||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||
Incremental NRC Inspection Costs | $ 53,000,000 | ||||||||||||||||
Expected NRC inspection costs | $ 44,000,000 | ||||||||||||||||
Entergy Arkansas [Member] | ANO [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Litigation Settlement, Amount | $ 31,000,000 | ||||||||||||||||
Damages awarded for previously capitalized costs | $ 6,000,000 | ||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 5,000,000 | ||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 19,000,000 | ||||||||||||||||
Damages awarded for previously recorded taxes other than income taxes | 1,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Pilgrim [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
NRC inspection costs | 28,600,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point and Fitzpatrick [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Litigation Settlement, Amount | $ 81,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point 3 [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Damages awarded for previously capitalized costs | 45,000,000 | ||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | 8,000,000 | ||||||||||||||||
Plant balance reduction | 37,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | FitzPatrick [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Damages awarded for previously capitalized costs | 32,000,000 | ||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | 1,000,000 | ||||||||||||||||
Plant balance reduction | 10,000,000 | ||||||||||||||||
Carrying Value of Nuclear Plant | 0 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Palisades [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Litigation Settlement, Amount | 21,000,000 | $ 14,000,000 | |||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point 2 [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Litigation Settlement, Amount | $ 34,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Vermont Yankee [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Litigation Settlement, Amount | $ 19,000,000 | ||||||||||||||||
Damages awarded for previously capitalized costs | 15,000,000 | ||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 4,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | 2,000,000 | ||||||||||||||||
Reduction to operation and maintenance expense | $ 13,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Minimum [Member] | Pilgrim [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Expected NRC inspection costs | 45,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Maximum [Member] | Pilgrim [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Expected NRC inspection costs | $ 60,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | Palisades [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Damages awarded for previously capitalized costs | 11,000,000 | ||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 3,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | 1,000,000 | ||||||||||||||||
Plant balance reduction | 10,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | Indian Point 2 [Member] | |||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||
Damages awarded for previously capitalized costs | 14,000,000 | ||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 15,000,000 | ||||||||||||||||
Damages awarded for previously recorded decommissioning expense | 3,000,000 | ||||||||||||||||
Damages awarded for previously recorded taxes other than income taxes | 2,000,000 | ||||||||||||||||
Reduction of previously recorded deprecation expense | 3,000,000 | ||||||||||||||||
Plant balance reduction | $ 11,000,000 |
Commitments And Contingencies86
Commitments And Contingencies (Maximum Amounts Of Possible Assessments Per Occurrence) (Details) - Insurance-related Assessments [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Entergy Arkansas [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 53,600 |
Entergy Louisiana [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 56,100 |
Entergy Mississippi [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 100 |
Entergy New Orleans [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 100 |
System Energy [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 25,300 |
Entergy Wholesale Commodities [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 0 |
Asset Retirement Obligations (N
Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||||
Sep. 30, 2015 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Receivables recorded for beneficial interests in decommissioning trust funds | $ 1,500,000 | ||||||
Decommissioning Fund Investments | $ 5,723,897 | $ 5,349,953 | |||||
Entergy Louisiana [Member] | |||||||
Decommissioning Fund Investments | 1,140,707 | 1,042,293 | |||||
Asset Retirement Obligation | 1,082,700 | 1,027,900 | $ 950,300 | ||||
System Energy [Member] | |||||||
Decommissioning Fund Investments | 780,496 | 701,460 | |||||
Asset Retirement Obligation | 854,200 | 803,400 | 757,900 | ||||
Entergy Wholesale Commodities [Member] | |||||||
Asset Retirement Obligation | 300 | 300 | 0 | ||||
Entergy Arkansas [Member] | |||||||
Decommissioning Fund Investments | 834,735 | 771,313 | |||||
Asset Retirement Obligation | 924,400 | 872,300 | $ 818,400 | ||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | |||||||
Increase in decommissioning liability | $ 101,600 | ||||||
Spent Nuclear Fuel Obligation, Noncurrent | $ 225,000 | ||||||
Grand Gulf [Member] | System Energy [Member] | |||||||
Reduction in decommissioning liability | 2,500 | ||||||
Waterford 3 [Member] | Entergy Louisiana [Member] | |||||||
Increase in decommissioning liability | 24,900 | ||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||
Increase in decommissioning liability | $ 134,000 | ||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 335,000 | ||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost After Impairment | 131,000 | ||||||
Change in Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | $ 204,000 | ||||||
Asset Retirement Obligation | 714,300 | ||||||
FitzPatrick [Member] | NYPA [Member] | |||||||
Decommissioning Fund Investments | 785,000 | ||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||
Reduction in decommissioning liability | $ 77,600 | ||||||
Increase in decommissioning liability | 129,000 | $ 42,400 | |||||
Indian Point Energy Center Units [Member] | Entergy Wholesale Commodities [Member] | |||||||
Increase in decommissioning liability | 392,000 | ||||||
Indian Point 3 [Member] | NYPA [Member] | |||||||
Decommissioning Fund Investments | $ 719,000 |
Asset Retirement Obligations (D
Asset Retirement Obligations (Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Oct. 31, 2015 |
Asset Retirement Obligations [Line Items] | ||||
Regulatory Liabilities | $ (107) | |||
Entergy Arkansas [Member] | ||||
Asset Retirement Obligations [Line Items] | ||||
Regulatory Assets | $ 128.5 | $ 85.7 | ||
Entergy Louisiana [Member] | ||||
Asset Retirement Obligations [Line Items] | ||||
Regulatory Liabilities | (53.9) | $ (16.1) | (68.3) | |
Entergy Mississippi [Member] | ||||
Asset Retirement Obligations [Line Items] | ||||
Regulatory Assets | 82 | 77.5 | ||
Entergy New Orleans [Member] | ||||
Asset Retirement Obligations [Line Items] | ||||
Regulatory Assets | 40.1 | 29.4 | ||
Entergy Texas [Member] | ||||
Asset Retirement Obligations [Line Items] | ||||
Regulatory Assets | 33.5 | 25.8 | ||
System Energy [Member] | ||||
Asset Retirement Obligations [Line Items] | ||||
Regulatory Assets | $ 69.7 | $ 54.8 |
Asset Retirement Obligations (C
Asset Retirement Obligations (Cumulative Decommissioning And Retirement Cost Liabilities And Expenses) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Entergy Arkansas [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | $ 924.4 | $ 872.3 | $ 818.4 |
Accretion | 53.6 | 50.4 | |
Change in Cash Flow Estimate | 0 | 0 | |
Spending | (1.5) | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 3.5 | |
Entergy Louisiana [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 1,082.7 | 1,027.9 | 950.3 |
Accretion | 54.8 | 51 | |
Change in Cash Flow Estimate | 0 | 24.7 | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 1.9 | |
Entergy Mississippi [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 8.7 | 8.3 | 6.8 |
Accretion | 0.4 | 0.4 | |
Change in Cash Flow Estimate | 0 | 0 | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 1.1 | |
Entergy New Orleans [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 2.9 | 2.7 | 2.5 |
Accretion | 0.2 | 0.2 | |
Change in Cash Flow Estimate | 0 | 0 | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
Entergy Texas [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 6.5 | 6.1 | 4.6 |
Accretion | 0.4 | 0.3 | |
Change in Cash Flow Estimate | 0 | (0.2) | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 1.4 | |
System Energy [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 854.2 | 803.4 | 757.9 |
Accretion | 50.8 | 48 | |
Change in Cash Flow Estimate | 0 | (2.5) | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
Entergy Wholesale Commodities [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 0.3 | 0.3 | 0 |
Accretion | 0 | 0.3 | |
Change in Cash Flow Estimate | 0 | 0 | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
Big Rock Point [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 37.9 | 28 | 27.8 |
Accretion | 2.2 | 2.2 | |
Change in Cash Flow Estimate | 10.1 | 0 | |
Spending | (2.4) | (2) | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
FitzPatrick [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 714.3 | 0 | |
Accretion | 18.1 | ||
Change in Cash Flow Estimate | 0 | ||
Spending | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 696.2 | ||
Indian Point 1 [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 207.6 | 197.9 | 188.9 |
Accretion | 17.1 | 16.3 | |
Change in Cash Flow Estimate | (0.3) | 0 | |
Spending | (7.1) | (7.3) | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
Indian Point 2 [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 653.1 | 390.1 | 359.7 |
Accretion | 33 | 30.4 | |
Change in Cash Flow Estimate | 230 | 0 | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
Indian Point 3 [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 641.1 | 0 | |
Accretion | 12.1 | ||
Change in Cash Flow Estimate | 162.7 | ||
Spending | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 466.3 | ||
Palisades [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 500.3 | 342 | 352 |
Accretion | 29.5 | 25.2 | |
Change in Cash Flow Estimate | 128.8 | (35.2) | |
Spending | 0 | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
Pilgrim [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 602.3 | 551.2 | 383.1 |
Accretion | 48.4 | 33.3 | |
Change in Cash Flow Estimate | 3.2 | 134.8 | |
Spending | (0.5) | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 0 | 0 | |
Vermont Yankee [Member] | |||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||
Asset Retirement Obligation | 470.5 | 560 | $ 606.3 |
Accretion | 39.3 | 46.1 | |
Change in Cash Flow Estimate | 0 | 0 | |
Spending | (128.8) | (92.4) | |
Asset Retirement Obligation, Liabilities Incurred | $ 0 | $ 0 |
Asset Retirement Obligations (F
Asset Retirement Obligations (Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 31, 2015 |
Asset Retirement Obligations [Line Items] | |||
Regulatory Liabilities | $ (107) | ||
ANO 1 and ANO 2 [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Decommissioning Trust Fair Values | $ 834.7 | $ 771.3 | |
Regulatory Asset | 316.3 | 280.3 | |
River Bend [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Decommissioning Trust Fair Values | 712.8 | 651.7 | |
Regulatory Liabilities | 28.4 | (26.8) | |
Waterford 3 [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Decommissioning Trust Fair Values | 427.9 | 390.6 | |
Regulatory Asset | 172.8 | 158.5 | |
Grand Gulf [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Decommissioning Trust Fair Values | 780.5 | 701.5 | |
Regulatory Asset | 142.5 | 108.6 | |
Entergy Wholesale Commodities [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Decommissioning Trust Fair Values | 2,968 | 2,834.9 | |
Regulatory Asset | $ 0 | $ 0 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2016USD ($) | Dec. 31, 1988USD ($)transaction | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 1989USD ($)transaction | Jun. 30, 2016USD ($) | Oct. 31, 2015USD ($) | Aug. 31, 2010USD ($) | |
Rent expense | $ 44,400,000 | $ 63,900,000 | $ 59,000,000 | ||||||
Net regulatory liability related to sale and leaseback transaction | $ 107,000,000 | ||||||||
Entergy Arkansas [Member] | |||||||||
Rent expense | 8,000,000 | 13,600,000 | 12,000,000 | ||||||
Payments For Railcar Operating Lease | 3,400,000 | 4,700,000 | 4,800,000 | ||||||
Value of non interest bearing first mortgage bonds | $ 124,100,000 | ||||||||
Regulatory Asset | $ 128,500,000 | 85,700,000 | |||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 17.10% | ||||||||
Entergy Louisiana [Member] | |||||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000,000 | ||||||||
Rent expense | $ 17,800,000 | 21,800,000 | 20,700,000 | ||||||
Payments For Railcar Operating Lease | 300,000 | 1,100,000 | 1,700,000 | ||||||
Cash payment representing the purchase price to acquire the undivided interests in Waterford 3 | $ 60,000,000 | ||||||||
Net regulatory liability related to sale and leaseback transaction | $ 53,900,000 | 68,300,000 | $ 16,100,000 | ||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 26.90% | ||||||||
Entergy Louisiana [Member] | Purchased Power Agreement [Domain] | |||||||||
Percentage Of Capacity And Energy Purchased Under Purchased Power Agreement | 50.00% | ||||||||
Entergy Louisiana [Member] | Waterford 3 [Member] | |||||||||
Number of sale leaseback transactions | transaction | 3 | ||||||||
Sale and lease back transaction amount | $ 353,600,000 | ||||||||
Implicit rate of future minimum lease payments | 8.09% | ||||||||
Liability related to undivided interests in Waterford 3 | 62,700,000 | ||||||||
Reduction in liability related to undivided interest in Waterford 3 | 2,700,000 | ||||||||
Reduced liability related to undivided interests in Waterford 3 | 60,000,000 | ||||||||
Entergy Mississippi [Member] | |||||||||
Rent expense | $ 4,000,000 | 5,400,000 | 4,300,000 | ||||||
Regulatory Asset | $ 82,000,000 | 77,500,000 | |||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 31.30% | ||||||||
Oil Tank Facilities Lease Payments | $ 1,600,000 | 1,600,000 | 1,600,000 | ||||||
Entergy New Orleans [Member] | |||||||||
Rent expense | 900,000 | 1,600,000 | 1,200,000 | ||||||
Regulatory Asset | $ 40,100,000 | 29,400,000 | |||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 24.70% | ||||||||
Entergy Texas [Member] | |||||||||
Rent expense | $ 2,800,000 | 4,000,000 | 3,800,000 | ||||||
Regulatory Asset | 33,500,000 | 25,800,000 | |||||||
Capacity expense under purchase power agreements accounted for as operating leases | $ 26,100,000 | 29,900,000 | 29,200,000 | ||||||
Entergy Texas [Member] | Purchased Power Agreement [Domain] | |||||||||
Percent of minimum payments | 100.00% | ||||||||
System Energy [Member] | |||||||||
Rent expense | $ 1,600,000 | 2,900,000 | $ 2,000,000 | ||||||
Regulatory Asset | 69,700,000 | 54,800,000 | |||||||
System Energy [Member] | Grand Gulf [Member] | |||||||||
Year Two | $ 17,188,000 | ||||||||
Number of sale leaseback transactions | transaction | 2 | ||||||||
Sale and lease back transaction amount | $ 500,000,000 | ||||||||
Implicit rate of future minimum lease payments | 5.13% | ||||||||
Regulatory Asset | $ 0 | ||||||||
Net regulatory liability related to sale and leaseback transaction | $ 55,600,000 | $ 55,600,000 |
Leases (Components Of Minimum L
Leases (Components Of Minimum Lease Payments) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Current Year, Operating Leases | $ 76,663 |
Year Two, Operating Leases | 69,620 |
Year Three, Operating Leases | 67,218 |
Year Four, Operating Leases | 51,127 |
Year Five, Operating Leases | 41,531 |
Years thereafter, Operating Leases | 90,787 |
Minimum lease payments, Operating Leases | 396,946 |
Current Year, Capital Leases | 4,694 |
Year Two, Capital Leases | 3,255 |
Year Three, Capital Leases | 3,124 |
Year Four, Capital Leases | 3,065 |
Year Five, Capital Leases | 2,887 |
Years thereafter, Capital Leases | 21,891 |
Minimum lease payments, Capital Leases | 38,916 |
Less: Amount representing interest, Capital Leases | 11,934 |
Present value of net minimum lease payments, Capital Leases | 26,982 |
Entergy Arkansas [Member] | |
Current Year, Operating Leases | 17,648 |
Year Two, Operating Leases | 14,667 |
Year Three, Operating Leases | 15,419 |
Year Four, Operating Leases | 8,871 |
Year Five, Operating Leases | 6,697 |
Years thereafter, Operating Leases | 25,818 |
Minimum lease payments, Operating Leases | 89,120 |
Entergy Louisiana [Member] | |
Current Year, Operating Leases | 23,947 |
Year Two, Operating Leases | 22,053 |
Year Three, Operating Leases | 22,461 |
Year Four, Operating Leases | 16,700 |
Year Five, Operating Leases | 12,097 |
Years thereafter, Operating Leases | 22,966 |
Minimum lease payments, Operating Leases | 120,224 |
Entergy Mississippi [Member] | |
Current Year, Operating Leases | 8,014 |
Year Two, Operating Leases | 7,171 |
Year Three, Operating Leases | 6,830 |
Year Four, Operating Leases | 5,878 |
Year Five, Operating Leases | 4,200 |
Years thereafter, Operating Leases | 5,865 |
Minimum lease payments, Operating Leases | 37,958 |
Current Year, Capital Leases | 1,570 |
Year Two, Capital Leases | 131 |
Year Three, Capital Leases | 0 |
Year Four, Capital Leases | 0 |
Year Five, Capital Leases | 0 |
Years thereafter, Capital Leases | 0 |
Minimum lease payments, Capital Leases | 1,701 |
Less: Amount representing interest, Capital Leases | 111 |
Present value of net minimum lease payments, Capital Leases | 1,590 |
Entergy New Orleans [Member] | |
Current Year, Operating Leases | 2,324 |
Year Two, Operating Leases | 2,065 |
Year Three, Operating Leases | 1,882 |
Year Four, Operating Leases | 1,627 |
Year Five, Operating Leases | 1,218 |
Years thereafter, Operating Leases | 1,864 |
Minimum lease payments, Operating Leases | 10,980 |
Entergy Texas [Member] | |
Current Year, Operating Leases | 5,361 |
Year Two, Operating Leases | 4,882 |
Year Three, Operating Leases | 3,841 |
Year Four, Operating Leases | 2,335 |
Year Five, Operating Leases | 1,546 |
Years thereafter, Operating Leases | 2,009 |
Minimum lease payments, Operating Leases | $ 19,974 |
Leases (Rent Expenses) (Details
Leases (Rent Expenses) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Rent Expense | $ 44.4 | $ 63.9 | $ 59 |
Entergy Arkansas [Member] | |||
Rent Expense | 8 | 13.6 | 12 |
Entergy Louisiana [Member] | |||
Rent Expense | 17.8 | 21.8 | 20.7 |
Entergy Mississippi [Member] | |||
Rent Expense | 4 | 5.4 | 4.3 |
Entergy New Orleans [Member] | |||
Rent Expense | 0.9 | 1.6 | 1.2 |
Entergy Texas [Member] | |||
Rent Expense | 2.8 | 4 | 3.8 |
System Energy [Member] | |||
Rent Expense | $ 1.6 | $ 2.9 | $ 2 |
Leases Purchase Power Agreement
Leases Purchase Power Agreement Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Current Year, Operating Leases | $ 76,663 |
Year Two, Operating Leases | 69,620 |
Year Three, Operating Leases | 67,218 |
Year Four, Operating Leases | 51,127 |
Year Five, Operating Leases | 41,531 |
Years thereafter, Operating Leases | 90,787 |
Minimum lease payments, Operating Leases | 396,946 |
Purchased Power Agreement [Domain] | |
Current Year, Operating Leases | 29,772 |
Year Two, Operating Leases | 30,458 |
Year Three, Operating Leases | 31,159 |
Year Four, Operating Leases | 31,876 |
Year Five, Operating Leases | 32,609 |
Years thereafter, Operating Leases | 10,180 |
Minimum lease payments, Operating Leases | 166,054 |
Entergy Louisiana [Member] | |
Current Year, Operating Leases | 23,947 |
Year Two, Operating Leases | 22,053 |
Year Three, Operating Leases | 22,461 |
Year Four, Operating Leases | 16,700 |
Year Five, Operating Leases | 12,097 |
Years thereafter, Operating Leases | 22,966 |
Minimum lease payments, Operating Leases | 120,224 |
Entergy Texas [Member] | |
Current Year, Operating Leases | 5,361 |
Year Two, Operating Leases | 4,882 |
Year Three, Operating Leases | 3,841 |
Year Four, Operating Leases | 2,335 |
Year Five, Operating Leases | 1,546 |
Years thereafter, Operating Leases | 2,009 |
Minimum lease payments, Operating Leases | 19,974 |
Entergy Texas [Member] | Purchased Power Agreement [Domain] | |
Current Year, Operating Leases | 29,772 |
Year Two, Operating Leases | 30,458 |
Year Three, Operating Leases | 31,159 |
Year Four, Operating Leases | 31,876 |
Year Five, Operating Leases | 32,609 |
Years thereafter, Operating Leases | 10,180 |
Minimum lease payments, Operating Leases | $ 166,054 |
Leases (Future Minimum Lease Pa
Leases (Future Minimum Lease Payments Sale Leaseback Transactions) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
System Energy [Member] | Grand Gulf [Member] | |
Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months | $ 17,188 |
Year Two | 17,188 |
Year Three | 17,188 |
Year Four | 17,188 |
Year Five | 17,188 |
Years thereafter | 257,812 |
Total | 343,752 |
Less: Amount representing interest | 309,393 |
Present value of net minimum lease payments | 34,359 |
Entergy Louisiana [Member] | Waterford 3 [Member] | |
Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months | 57,500 |
Less: Amount representing interest | $ 2,300 |
Retirement, Other Postretirem96
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)plan | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Concentration Risk | 10.00% | ||
Change in Plan Assets | |||
non-current pension liability | $ 3,036,010 | $ 3,187,357 | |
Current pension liability | 76,942 | 62,513 | |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 5,171,202 | 4,707,433 | |
Change in Plan Assets | |||
Number of qualified pension plans | plan | 9 | ||
Accumulated pension benefit obligation | $ 6,700,000 | 6,300,000 | |
Net periodic benefit costs | 214,853 | 321,138 | $ 216,477 |
Amortization of prior credit | 1,079 | 1,561 | 1,600 |
Expected Employer Contributions | $ 408,600 | ||
Number of Final Average Pay Qualified Pension Plans in which Assets Held in Master Trust | 7 | ||
Number of Qualified Pension Plans in which Registrant Subsidiaries Participate | 4 | ||
Number of Cash Balance Pension Plans in which Asset Held in Second Master Trust | 2 | ||
Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 5,171,202 | 4,707,433 | 4,827,966 |
Change in Plan Assets | |||
Projected benefit obligation | 7,142,567 | 6,848,238 | 7,230,542 |
non-current pension liability | 1,971,365 | 2,140,805 | |
Accumulated other comprehensive income (before taxes) | 619,935 | 640,256 | |
Other Postretirement Benefits [Member] | |||
Change in Plan Assets | |||
Expected Employer Contributions | 53,100 | ||
Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 151,000 | 137,600 | |
Net periodic benefit costs | 24,900 | 22,800 | 32,400 |
Settlement charges related to the payment of lump sum benefits out of the plan | 8,100 | 5,100 | 15,100 |
Projected benefit obligation | 169,300 | 157,300 | |
non-current pension liability | 137,600 | 136,100 | |
Current pension liability | 31,700 | 21,200 | |
Amortization of prior credit | 59,800 | 58,800 | |
Accumulated other comprehensive income (before taxes) | 31,600 | 23,500 | |
Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Subsidiaries' contribution to defined contribution plan | $ 47,000 | 44,400 | 43,300 |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | ||
Entergy Arkansas [Member] | |||
Change in Plan Assets | |||
non-current pension liability | $ 424,234 | 459,153 | |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,379,265 | 1,309,903 | |
Net periodic benefit costs | 37,601 | 62,683 | 42,365 |
Amortization of prior credit | 0 | ||
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1,041,592 | 959,618 | 977,521 |
Change in Plan Assets | |||
Projected benefit obligation | 1,454,310 | 1,400,511 | 1,485,718 |
non-current pension liability | 412,718 | 440,893 | |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 3,439 | 4,495 | |
Net periodic benefit costs | 1,819 | 446 | 754 |
Projected benefit obligation | 3,897 | 4,694 | |
non-current pension liability | 3,655 | 2,566 | |
Current pension liability | 242 | 2,128 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Settlement charges | 1,400 | 337 | |
Entergy Louisiana [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 780,278 | 833,185 | |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,513,884 | 1,436,535 | |
Net periodic benefit costs | 47,072 | 72,860 | 49,390 |
Amortization of prior credit | 0 | ||
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1,169,147 | 1,071,234 | 1,113,359 |
Change in Plan Assets | |||
Projected benefit obligation | 1,624,233 | 1,564,710 | 1,666,535 |
non-current pension liability | 455,086 | 493,476 | |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 2,134 | 2,538 | |
Net periodic benefit costs | 231 | 377 | 135 |
Projected benefit obligation | 2,134 | 2,550 | |
non-current pension liability | 1,901 | 2,313 | |
Current pension liability | 233 | 237 | |
Accumulated other comprehensive income (before taxes) | 13 | 41 | |
Settlement charges | 108 | ||
Entergy Mississippi [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 109,551 | 120,217 | |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 396,081 | 379,775 | |
Net periodic benefit costs | 9,510 | 16,412 | 9,988 |
Amortization of prior credit | 0 | ||
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 314,349 | 292,297 | 301,250 |
Change in Plan Assets | |||
Projected benefit obligation | 419,201 | 408,604 | 432,169 |
non-current pension liability | 104,852 | 116,307 | |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,961 | 1,802 | |
Net periodic benefit costs | 236 | 235 | 190 |
Projected benefit obligation | 2,296 | 2,185 | |
non-current pension liability | 2,159 | 2,066 | |
Current pension liability | 137 | 119 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Settlement charges | 1 | 2 | |
Entergy New Orleans [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 36,750 | 43,609 | |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 186,247 | 176,692 | |
Net periodic benefit costs | 5,593 | 8,981 | 6,607 |
Amortization of prior credit | 0 | ||
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 142,488 | 129,975 | 133,344 |
Change in Plan Assets | |||
Projected benefit obligation | 197,464 | 191,064 | 202,555 |
non-current pension liability | 54,976 | 61,089 | |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 452 | 417 | |
Net periodic benefit costs | 65 | 64 | 95 |
Projected benefit obligation | 514 | 468 | |
non-current pension liability | 495 | 449 | |
Current pension liability | 20 | 19 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Entergy Texas [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 67,313 | 77,517 | |
Entergy Texas [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 365,251 | 359,687 | |
Net periodic benefit costs | 5,002 | 12,059 | 8,521 |
Amortization of prior credit | 0 | ||
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 317,576 | 298,378 | 310,713 |
Change in Plan Assets | |||
Projected benefit obligation | 386,366 | 383,627 | 418,498 |
non-current pension liability | 68,790 | 85,249 | |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 8,333 | 8,460 | |
Net periodic benefit costs | 504 | 595 | 491 |
Projected benefit obligation | 8,665 | 8,832 | |
non-current pension liability | 7,892 | 8,059 | |
Current pension liability | 773 | 773 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Settlement charges | 16 | ||
System Energy [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 117,850 | 112,264 | |
System Energy [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 315,131 | 286,917 | |
Net periodic benefit costs | 10,808 | 16,581 | 12,229 |
Amortization of prior credit | 2 | ||
System Energy [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 235,144 | 212,006 | 217,621 |
Change in Plan Assets | |||
Projected benefit obligation | 335,381 | 311,542 | $ 334,312 |
non-current pension liability | $ 100,237 | $ 99,536 | |
Minimum [Member] | Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 70.00% | ||
Maximum [Member] | Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||
Domestic Equity Securities [Member] | Non-Taxables [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 39.00% | ||
Domestic Equity Securities [Member] | Qualified Pension And Other Postretirement Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 45.00% | ||
International Equity Securities [Member] | Non-Taxables [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 26.00% | ||
International Equity Securities [Member] | Qualified Pension And Other Postretirement Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 20.00% | ||
Fixed Income Securities [Member] | Non-Taxables [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 35.00% | ||
Fixed Income Securities [Member] | Qualified Pension And Other Postretirement Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 35.00% |
Retirement, Other Postretirem97
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other Postretirement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | $ 32,291 | $ 45,305 | $ 43,493 |
Interest cost | 56,331 | 71,934 | 71,841 |
Expected return on assets | (41,820) | (45,375) | (44,787) |
Amortization of prior credit | (45,490) | (37,280) | (31,590) |
Recognized net loss | 18,214 | 31,573 | 11,143 |
Net periodic pension costs | 19,526 | 66,157 | 50,100 |
Prior service credit for period | (20,353) | (48,192) | (35,864) |
Net loss | 49,805 | (154,339) | 287,313 |
Amortization of prior service cost/(credit) | 45,490 | 37,280 | 31,590 |
Amortization of net loss | 18,214 | 31,573 | 11,143 |
Total | 56,728 | (196,824) | 271,896 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 76,254 | (130,667) | 321,996 |
Prior service cost | (41,425) | (45,485) | (37,280) |
Net loss | 21,905 | 18,214 | 31,591 |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of prior credit | 59,800 | 58,800 | |
Net periodic pension costs | 24,900 | 22,800 | 32,400 |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 143,244 | 175,046 | 140,436 |
Interest cost | 261,613 | 302,777 | 290,076 |
Expected return on assets | (389,465) | (394,618) | (361,462) |
Amortization of prior credit | 1,079 | 1,561 | 1,600 |
Recognized net loss | 195,298 | 235,922 | 145,095 |
Curtailment loss | 3,084 | 374 | 0 |
Special termination benefit | 0 | 76 | 732 |
Net periodic pension costs | 214,853 | 321,138 | 216,477 |
Net loss | 203,229 | 50,762 | 1,389,912 |
Amortization of prior service cost/(credit) | (1,079) | (1,561) | (1,600) |
Acceleration of prior service cost due to curtailment | (1,045) | (374) | 0 |
Amortization of net loss | 195,298 | 235,922 | 145,095 |
Total | 5,807 | (187,095) | 1,243,217 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 220,660 | 134,043 | 1,459,694 |
Prior service cost | 261 | 1,079 | 1,561 |
Net loss | 227,720 | 195,321 | 237,013 |
Entergy Arkansas [Member] | Other Postretirement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 3,913 | 6,957 | 5,957 |
Interest cost | 9,297 | 12,518 | 12,261 |
Expected return on assets | (17,855) | (19,190) | (19,135) |
Amortization of prior credit | (5,472) | (2,441) | (2,441) |
Recognized net loss | 4,256 | 5,356 | 1,267 |
Net periodic pension costs | (5,861) | 3,200 | (2,091) |
Prior service credit for period | (1,007) | (18,035) | 0 |
Net loss | 3,331 | (11,978) | 55,642 |
Amortization of prior service cost/(credit) | 5,472 | 2,441 | 2,441 |
Amortization of net loss | 4,256 | 5,356 | 1,267 |
Total | 3,540 | (32,928) | 56,816 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (2,321) | (29,728) | 54,725 |
Prior service cost | (5,110) | (5,472) | (2,441) |
Net loss | 4,460 | 4,256 | 5,356 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 1,819 | 446 | 754 |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 20,724 | 26,646 | 20,090 |
Interest cost | 52,219 | 61,885 | 59,537 |
Expected return on assets | (79,087) | (80,102) | (73,218) |
Amortization of prior credit | 0 | ||
Recognized net loss | 43,745 | 54,254 | 35,956 |
Net periodic pension costs | 37,601 | 62,683 | 42,365 |
Net loss | 60,968 | 16,687 | 300,907 |
Amortization of prior service cost/(credit) | 0 | ||
Amortization of net loss | 43,745 | 54,254 | 35,956 |
Total | 17,223 | (37,567) | 264,951 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 54,824 | 25,116 | 307,316 |
Net loss | 46,560 | 43,747 | 54,254 |
Entergy Louisiana [Member] | Other Postretirement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 7,476 | 9,893 | 9,414 |
Interest cost | 13,041 | 16,311 | 16,642 |
Expected return on assets | 0 | 0 | 0 |
Amortization of prior credit | (7,787) | (7,467) | (5,614) |
Recognized net loss | 2,926 | 7,118 | 2,723 |
Net periodic pension costs | 15,656 | 25,855 | 23,165 |
Prior service credit for period | (4,647) | (1,361) | (12,845) |
Net loss | (13,117) | (47,043) | 61,049 |
Amortization of prior service cost/(credit) | 7,787 | 7,467 | 5,614 |
Amortization of net loss | 2,926 | 7,118 | 2,723 |
Total | (12,903) | (48,055) | 51,095 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 2,753 | (22,200) | 74,260 |
Prior service cost | (7,739) | (7,783) | (7,467) |
Net loss | 1,859 | 2,926 | 7,118 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 231 | 377 | 135 |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 28,194 | 34,396 | 25,706 |
Interest cost | 59,478 | 69,465 | 66,984 |
Expected return on assets | (88,383) | (90,803) | (83,746) |
Amortization of prior credit | 0 | ||
Recognized net loss | 47,783 | 59,802 | 40,446 |
Net periodic pension costs | 47,072 | 72,860 | 49,390 |
Net loss | 46,742 | 16,618 | 318,932 |
Amortization of prior service cost/(credit) | 0 | ||
Amortization of net loss | 47,783 | 59,802 | 40,446 |
Total | (1,041) | (43,184) | 278,486 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 46,031 | 29,676 | 327,876 |
Net loss | 49,417 | 47,809 | 59,802 |
Entergy Mississippi [Member] | Other Postretirement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,543 | 2,028 | 1,900 |
Interest cost | 2,835 | 3,436 | 3,655 |
Expected return on assets | (5,517) | (6,166) | (5,771) |
Amortization of prior credit | (934) | (916) | (915) |
Recognized net loss | 893 | 860 | 149 |
Net periodic pension costs | (1,180) | (758) | (982) |
Prior service credit for period | (6,219) | 0 | 0 |
Net loss | 8,715 | 774 | 9,525 |
Amortization of prior service cost/(credit) | 934 | 916 | 915 |
Amortization of net loss | 893 | 860 | 149 |
Total | 2,537 | 830 | 10,291 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 1,357 | 72 | 9,309 |
Prior service cost | (1,824) | (933) | (916) |
Net loss | 1,675 | 893 | 860 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 236 | 235 | 190 |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 6,250 | 7,929 | 6,094 |
Interest cost | 15,245 | 18,007 | 17,273 |
Expected return on assets | (23,923) | (24,420) | (22,794) |
Amortization of prior credit | 0 | ||
Recognized net loss | 11,938 | 14,896 | 9,415 |
Net periodic pension costs | 9,510 | 16,412 | 9,988 |
Net loss | 10,942 | 6,329 | 88,199 |
Amortization of prior service cost/(credit) | 0 | ||
Amortization of net loss | 11,938 | 14,896 | 9,415 |
Total | (996) | (8,567) | 78,784 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 8,514 | 7,845 | 88,772 |
Net loss | 12,213 | 11,938 | 14,896 |
Entergy New Orleans [Member] | Other Postretirement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 622 | 818 | 868 |
Interest cost | 1,791 | 2,608 | 2,805 |
Expected return on assets | (4,617) | (4,804) | (4,475) |
Amortization of prior credit | (745) | (709) | (709) |
Recognized net loss | 146 | 470 | 56 |
Net periodic pension costs | (2,803) | (1,617) | (1,455) |
Prior service credit for period | 0 | 0 | 0 |
Net loss | 5,717 | (5,810) | 6,309 |
Amortization of prior service cost/(credit) | 745 | 709 | 709 |
Amortization of net loss | 146 | 470 | 56 |
Total | 6,316 | (5,571) | 6,962 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 3,513 | (7,188) | 5,507 |
Prior service cost | (745) | (745) | (709) |
Net loss | 418 | 146 | 470 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 65 | 64 | 95 |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 2,625 | 3,395 | 2,666 |
Interest cost | 7,256 | 8,432 | 8,164 |
Expected return on assets | (10,748) | (10,899) | (10,019) |
Amortization of prior credit | 0 | ||
Recognized net loss | 6,460 | 8,053 | 5,796 |
Net periodic pension costs | 5,593 | 8,981 | 6,607 |
Net loss | 5,463 | 1,853 | 38,161 |
Amortization of prior service cost/(credit) | 0 | ||
Amortization of net loss | 6,460 | 8,053 | 5,796 |
Total | (997) | (6,200) | 32,365 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 4,596 | 2,781 | 38,972 |
Net loss | 6,632 | 6,460 | 8,053 |
Entergy Texas [Member] | Other Postretirement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,590 | 2,000 | 2,378 |
Interest cost | 4,154 | 5,366 | 5,652 |
Expected return on assets | (9,575) | (10,351) | (10,358) |
Amortization of prior credit | (2,722) | (2,723) | (1,300) |
Recognized net loss | 2,148 | 2,740 | 801 |
Net periodic pension costs | (4,405) | (2,968) | (2,827) |
Prior service credit for period | 0 | 0 | (8,536) |
Net loss | 13,378 | (4,907) | 24,482 |
Amortization of prior service cost/(credit) | 2,722 | 2,723 | 1,300 |
Amortization of net loss | 2,148 | 2,740 | 801 |
Total | 13,952 | (4,924) | 16,445 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 9,547 | (7,892) | 13,618 |
Prior service cost | (2,316) | (2,722) | (2,723) |
Net loss | 3,303 | 2,148 | 2,740 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 504 | 595 | 491 |
Entergy Texas [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 5,664 | 6,582 | 5,142 |
Interest cost | 14,228 | 17,414 | 17,746 |
Expected return on assets | (24,248) | (24,887) | (23,723) |
Amortization of prior credit | 0 | ||
Recognized net loss | 9,358 | 12,950 | 9,356 |
Net periodic pension costs | 5,002 | 12,059 | 8,521 |
Net loss | 3,816 | (4,488) | 65,363 |
Amortization of prior service cost/(credit) | 0 | ||
Amortization of net loss | 9,358 | 12,950 | 9,356 |
Total | (5,542) | (17,438) | 56,007 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (540) | (5,379) | 64,528 |
Net loss | 9,241 | 9,358 | 12,950 |
System Energy [Member] | Other Postretirement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,337 | 1,881 | 2,058 |
Interest cost | 2,117 | 2,511 | 2,611 |
Expected return on assets | (3,257) | (3,644) | (3,727) |
Amortization of prior credit | (1,570) | (1,465) | (824) |
Recognized net loss | 1,149 | 1,198 | 443 |
Net periodic pension costs | (224) | 481 | 561 |
Prior service credit for period | 0 | (644) | (3,845) |
Net loss | 4,997 | 305 | 10,596 |
Amortization of prior service cost/(credit) | 1,570 | 1,465 | 824 |
Amortization of net loss | 1,149 | 1,198 | 443 |
Total | 5,418 | (72) | 7,132 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 5,194 | 409 | 7,693 |
Prior service cost | (1,513) | (1,570) | (1,465) |
Net loss | 1,560 | 1,149 | 1,198 |
System Energy [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 6,263 | 7,827 | 5,785 |
Interest cost | 11,966 | 13,970 | 13,561 |
Expected return on assets | (17,836) | (18,271) | (16,619) |
Amortization of prior credit | 2 | ||
Recognized net loss | 10,415 | 13,055 | 9,500 |
Net periodic pension costs | 10,808 | 16,581 | 12,229 |
Net loss | 20,805 | 101 | 60,763 |
Amortization of prior service cost/(credit) | (2) | ||
Amortization of net loss | 10,415 | 13,055 | 9,500 |
Total | 10,390 | (12,954) | 51,261 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 21,198 | 3,627 | 63,490 |
Net loss | $ 11,857 | $ 10,414 | $ 13,055 |
Retirement, Other Postretirem98
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Amounts recognized in the balance sheet | |||
Current liabilities | $ (76,942) | $ (62,513) | |
Non-current liabilities | (3,036,010) | (3,187,357) | |
Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 6,848,238 | 7,230,542 | |
Service cost | 143,244 | 175,046 | |
Interest cost | 261,613 | 302,777 | |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | 2,039 | 0 | |
Special termination benefit | 0 | 76 | |
Actuarial (gain)/loss | 209,360 | (460,986) | |
Employee contributions | 23 | 524 | |
Benefits Paid | (321,950) | (399,741) | |
Balance at end of year | 7,142,567 | 6,848,238 | $ 7,230,542 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 4,707,433 | 4,827,966 | |
Actual return on plan assets | 395,596 | (117,130) | |
Employer contributions | 390,100 | 395,814 | |
Employee contributions | 23 | 524 | |
Benefits Paid | (321,950) | (399,741) | |
Fair value of assets at end of year | 5,171,202 | 4,707,433 | 4,827,966 |
Funded status | (1,971,365) | (2,140,805) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (1,971,365) | (2,140,805) | |
Amounts recognized as a regulatory asset | |||
Net loss | 2,326,349 | 2,300,222 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 659 | 2,784 | |
Net loss | 619,276 | 637,472 | |
Amount recognized as AOCI (before tax) | 619,935 | 640,256 | |
Other Postretirement [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,530,829 | 1,739,557 | |
Service cost | 32,291 | 45,305 | 43,493 |
Interest cost | 56,331 | 71,934 | 71,841 |
Plan amendments | (20,353) | (48,192) | |
Actuarial (gain)/loss | 46,201 | (208,017) | |
Employee contributions | 27,686 | 29,685 | |
Benefits Paid | (104,477) | (102,618) | |
Medicare Part D subsidy received | 455 | 3,175 | |
Balance at end of year | 1,568,963 | 1,530,829 | 1,739,557 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 579,069 | 597,627 | |
Actual return on plan assets | 38,216 | (8,303) | |
Employer contributions | 56,166 | 62,678 | |
Employee contributions | 27,686 | 29,685 | |
Benefits Paid | (104,477) | (102,618) | |
Fair value of assets at end of year | 596,660 | 579,069 | 597,627 |
Funded status | (972,303) | (951,760) | |
Amounts recognized in the balance sheet | |||
Current liabilities | (45,255) | (41,326) | |
Non-current liabilities | (927,048) | (910,434) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 54,896 | 61,833 | |
Net loss | 222,540 | 191,782 | |
Amortization of prior credit | (45,490) | (37,280) | (31,590) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 167,644 | 129,949 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | (89,474) | (107,673) | |
Net loss | 172,575 | 171,742 | |
Amount recognized as AOCI (before tax) | 83,101 | 64,069 | |
Entergy Arkansas [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (424,234) | (459,153) | |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,400,511 | 1,485,718 | |
Service cost | 20,724 | 26,646 | |
Interest cost | 52,219 | 61,885 | |
Actuarial (gain)/loss | 62,187 | (87,617) | |
Benefits Paid | (81,331) | (86,121) | |
Balance at end of year | 1,454,310 | 1,400,511 | 1,485,718 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 959,618 | 977,521 | |
Actual return on plan assets | 80,306 | (24,201) | |
Employer contributions | 82,999 | 92,419 | |
Benefits Paid | (81,331) | (86,121) | |
Fair value of assets at end of year | 1,041,592 | 959,618 | 977,521 |
Funded status | (412,718) | (440,893) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (412,718) | (440,893) | |
Amounts recognized as a regulatory asset | |||
Net loss | 701,774 | 684,552 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Arkansas [Member] | Other Postretirement [Member] | |||
Change in APBO | |||
Balance at beginning of year | 258,900 | 303,716 | |
Service cost | 3,913 | 6,957 | 5,957 |
Interest cost | 9,297 | 12,518 | 12,261 |
Plan amendments | (1,007) | (18,035) | |
Actuarial (gain)/loss | 2,453 | (34,217) | |
Employee contributions | 6,330 | 6,818 | |
Benefits Paid | (21,178) | (19,476) | |
Medicare Part D subsidy received | 79 | 619 | |
Balance at end of year | 258,787 | 258,900 | 303,716 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 243,206 | 244,191 | |
Actual return on plan assets | 16,977 | (3,049) | |
Employer contributions | 5,591 | 14,722 | |
Employee contributions | 6,330 | 6,818 | |
Benefits Paid | (21,178) | (19,476) | |
Fair value of assets at end of year | 250,926 | 243,206 | 244,191 |
Funded status | (7,861) | (15,694) | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | (7,861) | (15,694) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 21,684 | 26,149 | |
Net loss | 76,388 | 77,313 | |
Amortization of prior credit | (5,472) | (2,441) | (2,441) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 54,704 | 51,164 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
Entergy Louisiana [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (780,278) | (833,185) | |
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,564,710 | 1,666,535 | |
Service cost | 28,194 | 34,396 | |
Interest cost | 59,478 | 69,465 | |
Actuarial (gain)/loss | 48,357 | (101,361) | |
Benefits Paid | (76,506) | (104,325) | |
Balance at end of year | 1,624,233 | 1,564,710 | 1,666,535 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 1,071,234 | 1,113,359 | |
Actual return on plan assets | 89,998 | (27,175) | |
Employer contributions | 84,421 | 89,375 | |
Benefits Paid | (76,506) | (104,325) | |
Fair value of assets at end of year | 1,169,147 | 1,071,234 | 1,113,359 |
Funded status | (455,086) | (493,476) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (455,086) | (493,476) | |
Amounts recognized as a regulatory asset | |||
Net loss | 686,337 | 687,305 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 51,660 | 51,733 | |
Entergy Louisiana [Member] | Other Postretirement [Member] | |||
Change in APBO | |||
Balance at beginning of year | 356,253 | 394,946 | |
Service cost | 7,476 | 9,893 | 9,414 |
Interest cost | 13,041 | 16,311 | 16,642 |
Plan amendments | (4,647) | (1,361) | |
Actuarial (gain)/loss | (13,117) | (47,043) | |
Employee contributions | 6,273 | 6,864 | |
Benefits Paid | (22,893) | (24,182) | |
Medicare Part D subsidy received | 114 | 825 | |
Balance at end of year | 342,500 | 356,253 | 394,946 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contributions | 16,620 | 17,318 | |
Employee contributions | 6,273 | 6,864 | |
Benefits Paid | (22,893) | (24,182) | |
Fair value of assets at end of year | 0 | 0 | 0 |
Funded status | (342,500) | (356,253) | |
Amounts recognized in the balance sheet | |||
Current liabilities | (19,209) | (18,857) | |
Non-current liabilities | (323,291) | (337,396) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 0 | 0 | |
Net loss | 0 | 0 | |
Amortization of prior credit | (7,787) | (7,467) | (5,614) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 0 | 0 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | (27,735) | (30,874) | |
Net loss | 54,700 | 70,743 | |
Amount recognized as AOCI (before tax) | 26,965 | 39,869 | |
Entergy Mississippi [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (109,551) | (120,217) | |
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 408,604 | 432,169 | |
Service cost | 6,250 | 7,929 | |
Interest cost | 15,245 | 18,007 | |
Actuarial (gain)/loss | 11,343 | (25,492) | |
Benefits Paid | (22,241) | (24,009) | |
Balance at end of year | 419,201 | 408,604 | 432,169 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 292,297 | 301,250 | |
Actual return on plan assets | 24,325 | (7,401) | |
Employer contributions | 19,968 | 22,457 | |
Benefits Paid | (22,241) | (24,009) | |
Fair value of assets at end of year | 314,349 | 292,297 | 301,250 |
Funded status | (104,852) | (116,307) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (104,852) | (116,307) | |
Amounts recognized as a regulatory asset | |||
Net loss | 189,409 | 190,406 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Mississippi [Member] | Other Postretirement [Member] | |||
Change in APBO | |||
Balance at beginning of year | 77,382 | 83,162 | |
Service cost | 1,543 | 2,028 | 1,900 |
Interest cost | 2,835 | 3,436 | 3,655 |
Plan amendments | (6,219) | 0 | |
Actuarial (gain)/loss | 8,230 | (6,407) | |
Employee contributions | 1,721 | 1,884 | |
Benefits Paid | (7,031) | (6,927) | |
Medicare Part D subsidy received | 24 | 206 | |
Balance at end of year | 78,485 | 77,382 | 83,162 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 75,538 | 80,935 | |
Actual return on plan assets | 5,032 | (1,015) | |
Employer contributions | 685 | 661 | |
Employee contributions | 1,721 | 1,884 | |
Benefits Paid | (7,031) | (6,927) | |
Fair value of assets at end of year | 75,945 | 75,538 | 80,935 |
Funded status | (2,540) | (1,844) | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | (2,540) | (1,844) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 8,511 | 3,225 | |
Net loss | 26,416 | 18,594 | |
Amortization of prior credit | (934) | (916) | (915) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 17,905 | 15,369 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
Entergy New Orleans [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (36,750) | (43,609) | |
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 191,064 | 202,555 | |
Service cost | 2,625 | 3,395 | |
Interest cost | 7,256 | 8,432 | |
Actuarial (gain)/loss | 5,573 | (12,289) | |
Benefits Paid | (9,054) | (11,029) | |
Balance at end of year | 197,464 | 191,064 | 202,555 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 129,975 | 133,344 | |
Actual return on plan assets | 10,858 | (3,243) | |
Employer contributions | 10,709 | 10,903 | |
Benefits Paid | (9,054) | (11,029) | |
Fair value of assets at end of year | 142,488 | 129,975 | 133,344 |
Funded status | (54,976) | (61,089) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (54,976) | (61,089) | |
Amounts recognized as a regulatory asset | |||
Net loss | 94,944 | 95,941 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy New Orleans [Member] | Other Postretirement [Member] | |||
Change in APBO | |||
Balance at beginning of year | 51,951 | 63,779 | |
Service cost | 622 | 818 | 868 |
Interest cost | 1,791 | 2,608 | 2,805 |
Plan amendments | 0 | 0 | |
Actuarial (gain)/loss | 4,774 | (12,118) | |
Employee contributions | 1,213 | 1,259 | |
Benefits Paid | (4,852) | (4,532) | |
Medicare Part D subsidy received | 16 | 137 | |
Balance at end of year | 55,515 | 51,951 | 63,779 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 69,881 | 71,004 | |
Actual return on plan assets | 3,674 | (1,504) | |
Employer contributions | 4,320 | 3,654 | |
Employee contributions | 1,213 | 1,259 | |
Benefits Paid | (4,852) | (4,532) | |
Fair value of assets at end of year | 74,236 | 69,881 | 71,004 |
Funded status | 18,721 | 17,930 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | 18,721 | 17,930 | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 2,172 | 2,917 | |
Net loss | 12,029 | 6,458 | |
Amortization of prior credit | (745) | (709) | (709) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 9,857 | 3,541 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
Entergy Texas [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (67,313) | (77,517) | |
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 383,627 | 418,498 | |
Service cost | 5,664 | 6,582 | |
Interest cost | 14,228 | 17,414 | |
Actuarial (gain)/loss | 4,274 | (36,862) | |
Benefits Paid | (21,427) | (22,005) | |
Balance at end of year | 386,366 | 383,627 | 418,498 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 298,378 | 310,713 | |
Actual return on plan assets | 24,705 | (7,487) | |
Employer contributions | 15,920 | 17,157 | |
Benefits Paid | (21,427) | (22,005) | |
Fair value of assets at end of year | 317,576 | 298,378 | 310,713 |
Funded status | (68,790) | (85,249) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (68,790) | (85,249) | |
Amounts recognized as a regulatory asset | |||
Net loss | 153,544 | 159,085 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Texas [Member] | Other Postretirement [Member] | |||
Change in APBO | |||
Balance at beginning of year | 114,582 | 130,145 | |
Service cost | 1,590 | 2,000 | 2,378 |
Interest cost | 4,154 | 5,366 | 5,652 |
Plan amendments | 0 | 0 | |
Actuarial (gain)/loss | 12,389 | (17,052) | |
Employee contributions | 1,927 | 2,092 | |
Benefits Paid | (6,977) | (8,275) | |
Medicare Part D subsidy received | 35 | 306 | |
Balance at end of year | 127,700 | 114,582 | 130,145 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 130,374 | 135,733 | |
Actual return on plan assets | 8,586 | (1,794) | |
Employer contributions | 3,159 | 2,618 | |
Employee contributions | 1,927 | 2,092 | |
Benefits Paid | (6,977) | (8,275) | |
Fair value of assets at end of year | 137,069 | 130,374 | 135,733 |
Funded status | 9,369 | 15,792 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | 9,369 | 15,792 | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 8,296 | 11,018 | |
Net loss | 50,036 | 38,806 | |
Amortization of prior credit | (2,722) | (2,723) | (1,300) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 41,740 | 27,788 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
System Energy [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (117,850) | (112,264) | |
System Energy [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 311,542 | 334,312 | |
Service cost | 6,263 | 7,827 | |
Interest cost | 11,966 | 13,970 | |
Actuarial (gain)/loss | 20,661 | (23,720) | |
Benefits Paid | (15,051) | (20,847) | |
Balance at end of year | 335,381 | 311,542 | 334,312 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 212,006 | 217,621 | |
Actual return on plan assets | 17,692 | (5,550) | |
Employer contributions | 20,497 | 20,782 | |
Benefits Paid | (15,051) | (20,847) | |
Fair value of assets at end of year | 235,144 | 212,006 | 217,621 |
Funded status | (100,237) | (99,536) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (100,237) | (99,536) | |
Amounts recognized as a regulatory asset | |||
Net loss | 169,897 | 159,508 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
System Energy [Member] | Other Postretirement [Member] | |||
Change in APBO | |||
Balance at beginning of year | 57,645 | 60,754 | |
Service cost | 1,337 | 1,881 | 2,058 |
Interest cost | 2,117 | 2,511 | 2,611 |
Plan amendments | 0 | (644) | |
Actuarial (gain)/loss | 4,806 | (3,973) | |
Employee contributions | 1,390 | 1,530 | |
Benefits Paid | (4,818) | (4,532) | |
Medicare Part D subsidy received | 21 | 118 | |
Balance at end of year | 62,498 | 57,645 | 60,754 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 44,917 | 48,293 | |
Actual return on plan assets | 3,066 | (634) | |
Employer contributions | 330 | 260 | |
Employee contributions | 1,390 | 1,530 | |
Benefits Paid | (4,818) | (4,532) | |
Fair value of assets at end of year | 44,885 | 44,917 | 48,293 |
Funded status | (17,613) | (12,728) | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | (17,613) | (12,728) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 5,332 | 6,902 | |
Net loss | 23,405 | 19,557 | |
Amortization of prior credit | (1,570) | (1,465) | $ (824) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 18,073 | 12,655 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | $ 0 | $ 0 |
Retirement, Other Postretirem99
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Projected Benefit Obligations) (Details) - Non-Qualified Pension Plans [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Projected Benefit Obligation | $ 169,300 | $ 157,300 |
Entergy Arkansas [Member] | ||
Projected Benefit Obligation | 3,897 | 4,694 |
Entergy Louisiana [Member] | ||
Projected Benefit Obligation | 2,134 | 2,550 |
Entergy Mississippi [Member] | ||
Projected Benefit Obligation | 2,296 | 2,185 |
Entergy New Orleans [Member] | ||
Projected Benefit Obligation | 514 | 468 |
Entergy Texas [Member] | ||
Projected Benefit Obligation | $ 8,665 | $ 8,832 |
Retirement, Other Postretire100
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Accumulated Benefit Obligations) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | $ 151,000 | $ 137,600 |
Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 6,700,000 | 6,300,000 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 3,439 | 4,495 |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 1,379,265 | 1,309,903 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 2,134 | 2,538 |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 1,513,884 | 1,436,535 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 1,961 | 1,802 |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 396,081 | 379,775 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 452 | 417 |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 186,247 | 176,692 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 8,333 | 8,460 |
Entergy Texas [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 365,251 | 359,687 |
System Energy [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | $ 315,131 | $ 286,917 |
Retirement, Other Postretire101
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Amounts Recorded On The Balance Sheet) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Current liabilities | $ (76,942) | $ (62,513) |
Non-current liabilities | (3,036,010) | (3,187,357) |
Entergy Arkansas [Member] | ||
Non-current liabilities | (424,234) | (459,153) |
Entergy Louisiana [Member] | ||
Non-current liabilities | (780,278) | (833,185) |
Entergy Mississippi [Member] | ||
Non-current liabilities | (109,551) | (120,217) |
Entergy New Orleans [Member] | ||
Non-current liabilities | (36,750) | (43,609) |
Entergy Texas [Member] | ||
Non-current liabilities | (67,313) | (77,517) |
System Energy [Member] | ||
Non-current liabilities | (117,850) | (112,264) |
Qualified Pension Obligations [Member] | ||
Employee contributions | 23 | 524 |
Non-current liabilities | (1,971,365) | (2,140,805) |
Accumulated other comprehensive income (before taxes) | 619,935 | 640,256 |
Qualified Pension Obligations [Member] | Entergy Arkansas [Member] | ||
Non-current liabilities | (412,718) | (440,893) |
Qualified Pension Obligations [Member] | Entergy Louisiana [Member] | ||
Non-current liabilities | (455,086) | (493,476) |
Qualified Pension Obligations [Member] | Entergy Mississippi [Member] | ||
Non-current liabilities | (104,852) | (116,307) |
Qualified Pension Obligations [Member] | Entergy New Orleans [Member] | ||
Non-current liabilities | (54,976) | (61,089) |
Qualified Pension Obligations [Member] | Entergy Texas [Member] | ||
Non-current liabilities | (68,790) | (85,249) |
Qualified Pension Obligations [Member] | System Energy [Member] | ||
Non-current liabilities | (100,237) | (99,536) |
Non-Qualified Pension Plans [Member] | ||
Current liabilities | (31,700) | (21,200) |
Non-current liabilities | (137,600) | (136,100) |
Accumulated other comprehensive income (before taxes) | 31,600 | 23,500 |
Non-Qualified Pension Plans [Member] | Entergy Arkansas [Member] | ||
Current liabilities | (242) | (2,128) |
Non-current liabilities | (3,655) | (2,566) |
Total funded status | (3,897) | (4,694) |
Regulatory Asset | 2,914 | 2,356 |
Accumulated other comprehensive income (before taxes) | 0 | 0 |
Non-Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||
Current liabilities | (233) | (237) |
Non-current liabilities | (1,901) | (2,313) |
Total funded status | (2,134) | (2,550) |
Regulatory Asset | 175 | 544 |
Accumulated other comprehensive income (before taxes) | 13 | 41 |
Non-Qualified Pension Plans [Member] | Entergy Mississippi [Member] | ||
Current liabilities | (137) | (119) |
Non-current liabilities | (2,159) | (2,066) |
Total funded status | (2,296) | (2,185) |
Regulatory Asset | 876 | 883 |
Accumulated other comprehensive income (before taxes) | 0 | 0 |
Non-Qualified Pension Plans [Member] | Entergy New Orleans [Member] | ||
Current liabilities | (20) | (19) |
Non-current liabilities | (495) | (449) |
Total funded status | (515) | (468) |
Defined Benefit Pension Plan, Liabilities | (148) | (136) |
Accumulated other comprehensive income (before taxes) | 0 | 0 |
Non-Qualified Pension Plans [Member] | Entergy Texas [Member] | ||
Current liabilities | (773) | (773) |
Non-current liabilities | (7,892) | (8,059) |
Total funded status | (8,665) | (8,832) |
Defined Benefit Pension Plan, Liabilities | (316) | (333) |
Accumulated other comprehensive income (before taxes) | $ 0 | $ 0 |
Retirement, Other Postretire102
Retirement, Other Postretirement Benefits, And Defined Contribution Plans Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Reclassification Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | $ 29,414 | $ 23,920 |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | (1,045) | (374) |
Amortization of loss | (60,693) | (70,296) |
Settlement loss | (2,007) | (1,401) |
Total | (34,331) | (48,151) |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | (1,079) | (1,557) |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | (1,045) | (374) |
Amortization of loss | (49,930) | (50,508) |
Settlement loss | 0 | 0 |
Total | (52,054) | (52,439) |
Other Postretirement [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 30,949 | 25,905 |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | 0 | 0 |
Amortization of loss | (8,248) | (17,613) |
Settlement loss | 0 | 0 |
Total | 22,701 | 8,292 |
Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | (456) | (428) |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | 0 | 0 |
Amortization of loss | (2,515) | (2,175) |
Settlement loss | (2,007) | (1,401) |
Total | (4,978) | (4,004) |
Entergy Louisiana [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 7,786 | 7,464 |
Amortization of loss | (6,281) | (10,140) |
Settlement loss | (14) | |
Total | 1,505 | (2,690) |
Entergy Louisiana [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 0 | 0 |
Amortization of loss | (3,345) | (3,003) |
Settlement loss | 0 | |
Total | (3,345) | (3,003) |
Entergy Louisiana [Member] | Other Postretirement [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 7,787 | 7,467 |
Amortization of loss | (2,926) | (7,118) |
Settlement loss | 0 | |
Total | 4,861 | 349 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | (1) | (3) |
Amortization of loss | (10) | (19) |
Settlement loss | (14) | |
Total | $ (11) | $ (36) |
Retirement, Other Postretire103
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Plan Assets, Asset Allocations Targets) (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Domestic Equity Securities [Member] | Non-Taxables [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 39.00% | |
Range, Minimum | 34.00% | |
Range, Maximum | 44.00% | |
Postretirement Asset Allocation | 40.00% | 40.00% |
International Equity Securities [Member] | Non-Taxables [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 26.00% | |
Range, Minimum | 21.00% | |
Range, Maximum | 31.00% | |
Postretirement Asset Allocation | 27.00% | 24.00% |
Fixed Income Securities [Member] | Non-Taxables [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 35.00% | |
Range, Minimum | 30.00% | |
Range, Maximum | 40.00% | |
Postretirement Asset Allocation | 33.00% | 36.00% |
Other Securities [Member] | Non-Taxables [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Range, Minimum | 0.00% | |
Range, Maximum | 5.00% | |
Postretirement Asset Allocation | 0.00% | 0.00% |
Qualified Pension And Other Postretirement Plans [Member] | Domestic Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 45.00% | |
Range, Minimum | 37.00% | |
Range, Maximum | 53.00% | |
Postretirement Asset Allocation | 46.00% | 45.00% |
Qualified Pension And Other Postretirement Plans [Member] | International Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 20.00% | |
Range, Minimum | 16.00% | |
Range, Maximum | 24.00% | |
Postretirement Asset Allocation | 20.00% | 19.00% |
Qualified Pension And Other Postretirement Plans [Member] | Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 35.00% | |
Range, Minimum | 32.00% | |
Range, Maximum | 38.00% | |
Postretirement Asset Allocation | 33.00% | 35.00% |
Qualified Pension And Other Postretirement Plans [Member] | Other Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Range, Minimum | 0.00% | |
Range, Maximum | 10.00% | |
Postretirement Asset Allocation | 1.00% | 1.00% |
Retirement, Other Postretire104
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Investments Held For Qualified Pension And Other Postretirement Plans Measured At Fair Value) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Qualified Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | $ 5,208,228 | $ 4,744,032 | ||||
Cash | 929 | 373 | ||||
Other pending transactions | 8,869 | 1,124 | ||||
Less: Other postretirement assets included in total investments | (46,824) | (38,096) | ||||
Total fair value of qualified pension assets | 5,171,202 | 4,707,433 | ||||
Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 3,610 | |||||
Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 6,423 | 6,409 | ||||
Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 745,754 | 686,430 | ||||
Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 2,072,743 | 1,873,218 | ||||
Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 335,818 | 283,288 | ||||
Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 370,681 | 345,684 | ||||
Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 630,726 | 595,862 | ||||
Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 258,879 | 202,282 | ||||
Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 640,836 | 600,646 | ||||
Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 105,647 | 114,215 | ||||
Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 37,111 | 35,998 | ||||
Other Postretirement [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 549,732 | 540,493 | ||||
Other pending transactions | 104 | 480 | ||||
Plus: Other postretirement assets included in the investments of the qualified pension trust | 46,824 | 38,096 | ||||
Total fair value of qualified pension assets | 596,660 | 579,069 | $ 597,627 | |||
Other Postretirement [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 368,704 | 348,604 | ||||
Other Postretirement [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 73,729 | 76,011 | ||||
Other Postretirement [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 58,787 | 62,629 | ||||
Other Postretirement [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 3,123 | 3,572 | ||||
Other Postretirement [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 45,389 | 49,677 | ||||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 1,046,403 | 950,343 | ||||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 0 | |||||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [1] | 6,423 | 6,409 | |||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [1] | 745,715 | 686,335 | |||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [2] | 0 | ||||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [3] | |||||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 136 | [1] | 1,879 | [4] | ||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 258,879 | [5] | 202,282 | [6] | ||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 35,216 | [5] | 53,438 | [6] | ||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [7] | 34 | 0 | |||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [8] | 0 | 0 | |||
Fair Value Inputs Level 1 [Member] | Other Postretirement [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 33,755 | 37,361 | ||||
Fair Value Inputs Level 1 [Member] | Other Postretirement [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [1] | 30,632 | 33,789 | |||
Fair Value Inputs Level 1 [Member] | Other Postretirement [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 1 [Member] | Other Postretirement [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [5] | 3,123 | 3,572 | |||
Fair Value Inputs Level 1 [Member] | Other Postretirement [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [7] | 0 | 0 | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 1,150,339 | 1,092,660 | ||||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 3,610 | ||||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 39 | 95 | ||||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [2] | 0 | ||||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [3] | |||||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 370,545 | 343,805 | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 630,726 | 595,862 | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [6] | 0 | 0 | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [6] | 2,695 | 2,685 | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [7] | 105,613 | 114,215 | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [8] | 37,111 | 35,998 | |||
Fair Value Inputs Level 2 [Member] | Other Postretirement [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 147,273 | 154,528 | ||||
Fair Value Inputs Level 2 [Member] | Other Postretirement [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 43,097 | 42,222 | |||
Fair Value Inputs Level 2 [Member] | Other Postretirement [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 58,787 | 62,629 | |||
Fair Value Inputs Level 2 [Member] | Other Postretirement [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [5] | 0 | 0 | |||
Fair Value Inputs Level 2 [Member] | Other Postretirement [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [7] | 45,389 | 49,677 | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 0 | 0 | ||||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 0 | |||||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 0 | |||||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [2] | 0 | ||||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [3] | |||||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [6] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [6] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [7] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [8] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Other Postretirement [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | 0 | 0 | ||||
Fair Value Inputs Level 3 [Member] | Other Postretirement [Member] | U.S. Government securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Other Postretirement [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [4] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Other Postretirement [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [5] | 0 | 0 | |||
Fair Value Inputs Level 3 [Member] | Other Postretirement [Member] | Other [Member] | Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Investments | [7] | $ 0 | $ 0 | |||
[1] | (b)Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices. | |||||
[2] | (c)The common collective trusts hold investments in accordance with stated objectives. The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index. | |||||
[3] | (h)103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. 103-12 investment entities estimate fair value using net asset value as a practical expedient. | |||||
[4] | (a)Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes. | |||||
[5] | (d)Registered investment companies are money market mutual funds with a stable net asset value of one dollar per share | |||||
[6] | (f) | |||||
[7] | The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes. | |||||
[8] | (g)The unallocated insurance contract investments are recorded at contract value, which approximates fair value. The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust. |
Retirement, Other Postretire105
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Estimated Future Benefit Payments) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | $ 330 |
Estimated Future Medicare Subsidy Receipts, Year Two | 1,069 |
Estimated Future Medicare Subsidy Receipts, Year Three | 1,204 |
Estimated Future Medicare Subsidy Receipts, Year Four | 1,357 |
Estimated Future Medicare Subsidy Receipts, Year Five | 1,518 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 10,336 |
Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 316,770 |
Estimated Future Benefits Payments, Year Two | 328,101 |
Estimated Future Benefits Payments, Year Three | 343,982 |
Estimated Future Benefits Payments, Year Four | 362,642 |
Estimated Future Benefits Payments, Year Five | 375,354 |
Estimated Future Benefits Payments, Year Six - Year Ten | 2,128,911 |
Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 31,687 |
Estimated Future Benefits Payments, Year Two | 12,251 |
Estimated Future Benefits Payments, Year Three | 11,428 |
Estimated Future Benefits Payments, Year Four | 13,183 |
Estimated Future Benefits Payments, Year Five | 11,321 |
Estimated Future Benefits Payments, Year Six - Year Ten | 79,373 |
Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 83,638 |
Estimated Future Benefits Payments, Year Two | 88,235 |
Estimated Future Benefits Payments, Year Three | 92,511 |
Estimated Future Benefits Payments, Year Four | 95,167 |
Estimated Future Benefits Payments, Year Five | 98,043 |
Estimated Future Benefits Payments, Year Six - Year Ten | 510,419 |
Entergy Arkansas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 73 |
Estimated Future Medicare Subsidy Receipts, Year Two | 235 |
Estimated Future Medicare Subsidy Receipts, Year Three | 265 |
Estimated Future Medicare Subsidy Receipts, Year Four | 296 |
Estimated Future Medicare Subsidy Receipts, Year Five | 325 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 2,119 |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 76,603 |
Estimated Future Benefits Payments, Year Two | 77,401 |
Estimated Future Benefits Payments, Year Three | 78,484 |
Estimated Future Benefits Payments, Year Four | 79,804 |
Estimated Future Benefits Payments, Year Five | 81,382 |
Estimated Future Benefits Payments, Year Six - Year Ten | 436,154 |
Entergy Arkansas [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 242 |
Estimated Future Benefits Payments, Year Two | 351 |
Estimated Future Benefits Payments, Year Three | 282 |
Estimated Future Benefits Payments, Year Four | 318 |
Estimated Future Benefits Payments, Year Five | 282 |
Estimated Future Benefits Payments, Year Six - Year Ten | 2,192 |
Entergy Arkansas [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 16,195 |
Estimated Future Benefits Payments, Year Two | 16,505 |
Estimated Future Benefits Payments, Year Three | 16,524 |
Estimated Future Benefits Payments, Year Four | 16,410 |
Estimated Future Benefits Payments, Year Five | 16,610 |
Estimated Future Benefits Payments, Year Six - Year Ten | 82,670 |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 75 |
Estimated Future Medicare Subsidy Receipts, Year Two | 242 |
Estimated Future Medicare Subsidy Receipts, Year Three | 268 |
Estimated Future Medicare Subsidy Receipts, Year Four | 297 |
Estimated Future Medicare Subsidy Receipts, Year Five | 330 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 2,193 |
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 73,648 |
Estimated Future Benefits Payments, Year Two | 75,927 |
Estimated Future Benefits Payments, Year Three | 78,351 |
Estimated Future Benefits Payments, Year Four | 81,148 |
Estimated Future Benefits Payments, Year Five | 84,705 |
Estimated Future Benefits Payments, Year Six - Year Ten | 479,274 |
Entergy Louisiana [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 233 |
Estimated Future Benefits Payments, Year Two | 222 |
Estimated Future Benefits Payments, Year Three | 211 |
Estimated Future Benefits Payments, Year Four | 200 |
Estimated Future Benefits Payments, Year Five | 189 |
Estimated Future Benefits Payments, Year Six - Year Ten | 776 |
Entergy Louisiana [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 19,284 |
Estimated Future Benefits Payments, Year Two | 19,986 |
Estimated Future Benefits Payments, Year Three | 20,700 |
Estimated Future Benefits Payments, Year Four | 21,218 |
Estimated Future Benefits Payments, Year Five | 21,804 |
Estimated Future Benefits Payments, Year Six - Year Ten | 114,287 |
Entergy Mississippi [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 26 |
Estimated Future Medicare Subsidy Receipts, Year Two | 83 |
Estimated Future Medicare Subsidy Receipts, Year Three | 91 |
Estimated Future Medicare Subsidy Receipts, Year Four | 99 |
Estimated Future Medicare Subsidy Receipts, Year Five | 107 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 666 |
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 21,416 |
Estimated Future Benefits Payments, Year Two | 21,944 |
Estimated Future Benefits Payments, Year Three | 22,423 |
Estimated Future Benefits Payments, Year Four | 23,135 |
Estimated Future Benefits Payments, Year Five | 23,801 |
Estimated Future Benefits Payments, Year Six - Year Ten | 127,886 |
Entergy Mississippi [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 137 |
Estimated Future Benefits Payments, Year Two | 126 |
Estimated Future Benefits Payments, Year Three | 124 |
Estimated Future Benefits Payments, Year Four | 245 |
Estimated Future Benefits Payments, Year Five | 167 |
Estimated Future Benefits Payments, Year Six - Year Ten | 901 |
Entergy Mississippi [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 4,522 |
Estimated Future Benefits Payments, Year Two | 4,772 |
Estimated Future Benefits Payments, Year Three | 4,859 |
Estimated Future Benefits Payments, Year Four | 5,032 |
Estimated Future Benefits Payments, Year Five | 5,192 |
Estimated Future Benefits Payments, Year Six - Year Ten | 26,500 |
Entergy New Orleans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 18 |
Estimated Future Medicare Subsidy Receipts, Year Two | 53 |
Estimated Future Medicare Subsidy Receipts, Year Three | 56 |
Estimated Future Medicare Subsidy Receipts, Year Four | 59 |
Estimated Future Medicare Subsidy Receipts, Year Five | 61 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 353 |
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 8,829 |
Estimated Future Benefits Payments, Year Two | 9,129 |
Estimated Future Benefits Payments, Year Three | 9,467 |
Estimated Future Benefits Payments, Year Four | 9,979 |
Estimated Future Benefits Payments, Year Five | 10,577 |
Estimated Future Benefits Payments, Year Six - Year Ten | 60,044 |
Entergy New Orleans [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 20 |
Estimated Future Benefits Payments, Year Two | 20 |
Estimated Future Benefits Payments, Year Three | 51 |
Estimated Future Benefits Payments, Year Four | 34 |
Estimated Future Benefits Payments, Year Five | 36 |
Estimated Future Benefits Payments, Year Six - Year Ten | 361 |
Entergy New Orleans [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 4,054 |
Estimated Future Benefits Payments, Year Two | 4,086 |
Estimated Future Benefits Payments, Year Three | 4,126 |
Estimated Future Benefits Payments, Year Four | 4,084 |
Estimated Future Benefits Payments, Year Five | 4,065 |
Estimated Future Benefits Payments, Year Six - Year Ten | 19,532 |
Entergy Texas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 30 |
Estimated Future Medicare Subsidy Receipts, Year Two | 93 |
Estimated Future Medicare Subsidy Receipts, Year Three | 100 |
Estimated Future Medicare Subsidy Receipts, Year Four | 108 |
Estimated Future Medicare Subsidy Receipts, Year Five | 115 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 723 |
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 20,614 |
Estimated Future Benefits Payments, Year Two | 21,230 |
Estimated Future Benefits Payments, Year Three | 21,753 |
Estimated Future Benefits Payments, Year Four | 22,429 |
Estimated Future Benefits Payments, Year Five | 23,048 |
Estimated Future Benefits Payments, Year Six - Year Ten | 122,832 |
Entergy Texas [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 773 |
Estimated Future Benefits Payments, Year Two | 741 |
Estimated Future Benefits Payments, Year Three | 716 |
Estimated Future Benefits Payments, Year Four | 799 |
Estimated Future Benefits Payments, Year Five | 690 |
Estimated Future Benefits Payments, Year Six - Year Ten | 3,637 |
Entergy Texas [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 7,137 |
Estimated Future Benefits Payments, Year Two | 7,576 |
Estimated Future Benefits Payments, Year Three | 7,904 |
Estimated Future Benefits Payments, Year Four | 8,155 |
Estimated Future Benefits Payments, Year Five | 8,443 |
Estimated Future Benefits Payments, Year Six - Year Ten | 42,855 |
System Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 10 |
Estimated Future Medicare Subsidy Receipts, Year Two | 33 |
Estimated Future Medicare Subsidy Receipts, Year Three | 40 |
Estimated Future Medicare Subsidy Receipts, Year Four | 47 |
Estimated Future Medicare Subsidy Receipts, Year Five | 54 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 424 |
System Energy [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 14,314 |
Estimated Future Benefits Payments, Year Two | 14,681 |
Estimated Future Benefits Payments, Year Three | 15,147 |
Estimated Future Benefits Payments, Year Four | 15,747 |
Estimated Future Benefits Payments, Year Five | 16,359 |
Estimated Future Benefits Payments, Year Six - Year Ten | 98,295 |
System Energy [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 3,331 |
Estimated Future Benefits Payments, Year Two | 3,392 |
Estimated Future Benefits Payments, Year Three | 3,505 |
Estimated Future Benefits Payments, Year Four | 3,555 |
Estimated Future Benefits Payments, Year Five | 3,706 |
Estimated Future Benefits Payments, Year Six - Year Ten | $ 19,376 |
Retirement, Other Postretire106
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Expected Employer Contributions) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Entergy Arkansas [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | $ 79,386 |
Entergy Arkansas [Member] | Other Postretirement [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 525 |
Entergy Louisiana [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 87,702 |
Entergy Louisiana [Member] | Other Postretirement [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 19,284 |
Entergy Mississippi [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 19,117 |
Entergy Mississippi [Member] | Other Postretirement [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 140 |
Entergy New Orleans [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 9,904 |
Entergy New Orleans [Member] | Other Postretirement [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 3,669 |
Entergy Texas [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 17,000 |
Entergy Texas [Member] | Other Postretirement [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 3,231 |
System Energy [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 18,096 |
System Energy [Member] | Other Postretirement [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | $ 690 |
Retirement, Other Postretire107
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Actuarial Assumptions Used In Determining Pension And Other Postretirement Benefit Obligation) (Details) - Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted-average rate of increase in future compensation levels | 3.98% | 4.23% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% |
Pre-65 Retirees [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Assumed health care cost trend rate | 6.55% | 6.75% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 |
Post - 65 Retirees [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Assumed health care cost trend rate | 7.25% | 7.55% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 |
Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Blended weighted-average discount rate | 4.39% | 4.67% |
Other Postretirement [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted-average discount rate | 4.30% | 4.60% |
Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted-average discount rate | 3.63% | 3.84% |
Minimum [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted-average discount rate | 4.30% | 4.51% |
Maximum [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted-average discount rate | 4.49% | 4.79% |
Retirement, Other Postretire108
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Actuarial Assumptions Used In Determining Net Periodic And Other Postretirement Benefit Obligation) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Weighted-average rate of increase in future compensation levels | 4.23% | 4.23% | 4.23% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | 4.75% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Pre-65 Retirees [Member] | |||
Assumed health care cost trend rate | 6.75% | 7.10% | 7.25% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,024 | 2,023 | 2,022 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Post - 65 Retirees [Member] | |||
Assumed health care cost trend rate | 7.55% | 7.70% | 7.00% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,024 | 2,023 | 2,022 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Qualified Pension Plans [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 5.00% | 4.27% | 5.14% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Qualified Pension Plans [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 3.90% | 4.27% | 5.14% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Other Postretirement [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 4.92% | 4.23% | 5.05% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Other Postretirement [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 3.78% | 4.23% | 5.05% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Non-Qualified Pension Plans [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 3.65% | 3.61% | 4.29% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Non-Qualified Pension Plans [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 3.10% | 3.61% | 4.29% |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | 4.23% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Pre-65 Retirees [Member] | |||
Assumed health care cost trend rate | 6.55% | 6.75% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Post - 65 Retirees [Member] | |||
Assumed health care cost trend rate | 7.25% | 7.55% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Qualified Pension Plans [Member] | |||
Blended weighted-average discount rate | 4.39% | 4.67% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Other Postretirement [Member] | |||
Weighted-average discount rate | 4.30% | 4.60% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Non-Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 3.63% | 3.84% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 4.30% | 4.51% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 4.49% | 4.79% | |
Pension Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Expected long-term rate of return on plan assets | 7.75% | 8.25% | 8.50% |
Non-Taxables [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Expected long-term rate of return on plan assets | 7.75% | 8.05% | 8.30% |
Taxable [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Expected long-term rate of return on plan assets | 6.00% | 6.25% | 6.50% |
Retirement, Other Postretire109
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (One Percentage Point Change In Assumed Health Care Cost Trend Rate) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
1 Percentage Point Increase, Impact on the APBO | $ 173,057 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 12,281 |
1 Percentage Point Decrease, Impact on the APBO | (144,460) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (9,928) |
Entergy Arkansas [Member] | |
1 Percentage Point Increase, Impact on the APBO | 25,743 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 1,609 |
1 Percentage Point Decrease, Impact on the APBO | (21,520) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (1,313) |
Entergy Louisiana [Member] | |
1 Percentage Point Increase, Impact on the APBO | 37,874 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 2,910 |
1 Percentage Point Decrease, Impact on the APBO | (31,510) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (2,343) |
Entergy Mississippi [Member] | |
1 Percentage Point Increase, Impact on the APBO | 7,997 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 625 |
1 Percentage Point Decrease, Impact on the APBO | (6,710) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (498) |
Entergy New Orleans [Member] | |
1 Percentage Point Increase, Impact on the APBO | 4,941 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 259 |
1 Percentage Point Decrease, Impact on the APBO | (4,184) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (214) |
Entergy Texas [Member] | |
1 Percentage Point Increase, Impact on the APBO | 14,187 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 758 |
1 Percentage Point Decrease, Impact on the APBO | (11,896) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (619) |
System Energy [Member] | |
1 Percentage Point Increase, Impact on the APBO | 7,750 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 489 |
1 Percentage Point Decrease, Impact on the APBO | (6,401) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | $ (394) |
Retirement, Other Postretire110
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Actuarially Estimated Effect Of Future Medicare Subsidies And The Actual Subsidies Received) (Details) - Other Postretirement [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Medicare subsidies received | $ 455 | $ 3,175 |
Entergy Arkansas [Member] | ||
Medicare subsidies received | 79 | 619 |
Entergy Louisiana [Member] | ||
Medicare subsidies received | 114 | 825 |
Entergy Mississippi [Member] | ||
Medicare subsidies received | 24 | 206 |
Entergy New Orleans [Member] | ||
Medicare subsidies received | 16 | 137 |
Entergy Texas [Member] | ||
Medicare subsidies received | 35 | 306 |
System Energy [Member] | ||
Medicare subsidies received | $ 21 | $ 118 |
Retirement, Other Postretire111
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Contributions To Defined Contribution Plans) (Details) - Defined Contribution Plans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Entergy Arkansas [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 3,528 | $ 3,242 | $ 3,044 |
Entergy Louisiana [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 4,746 | 4,324 | 4,133 |
Entergy Mississippi [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 1,997 | 1,920 | 1,855 |
Entergy New Orleans [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 708 | 721 | 710 |
Entergy Texas [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 1,778 | $ 1,620 | $ 1,563 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) | Jan. 28, 2016 | Jan. 31, 2016 | Jan. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation plans award vesting period | 3 years | |||||
Equity Ownership And Long-Term Cash Incentive Plan 2007 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares authorized | 7,000,000 | |||||
Expiration of stock-based awards | 10 years | |||||
Equity Ownership And Long Term Cash Incentive Plan 2011 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares authorized | 5,500,000 | |||||
Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares available for grant | 5,192,463 | |||||
Number of shares authorized | 6,900,000 | |||||
Expiration of stock-based awards | 10 years | |||||
Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expiration of stock-based awards | 10 years | |||||
Percentage of after tax net profit to be retained by the executive officer to achieve ownership position | 75.00% | |||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 7.40 | $ 11.41 | $ 8.71 | |||
Total intrinsic value of options exercised | $ 5,000,000 | $ 5,000,000 | $ 26,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 0 | |||||
Total fair value of vested options | 5,000,000 | 4,000,000 | 4,000,000 | |||
Total Fair Value of In-The-Money Options | 11,000,000 | |||||
Cost related to non-vested stock options outstanding not yet recognized | $ 6,000,000 | |||||
Recognition period | 1 year 8 months 13 days | |||||
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | $ 33,000,000 | |||||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | 2,000,000 | |||||
Incentive Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | $ 21,000,000 | 16,000,000 | 16,000,000 | |||
Average award vesting period | 3 years | |||||
Top Quartile Performance Maximum Payout Target | 200.00% | |||||
Incentive Stock Options [Member] | Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares available for grant | 1,500,000 | |||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 84.52 | |||||
Long term incentive plan awards (in shares) | 199,800 | |||||
Incentive Stock Options [Member] | 2012-2014 Long-Term Performance Unit Program [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 88.67 | |||||
Long term incentive plan awards (in shares) | 105,503 | |||||
Incentive Stock Options [Member] | 2013-2015 Long-Term Performance Unit Program [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 68.09 | |||||
Long term incentive plan awards (in shares) | 54,103 | |||||
Restricted Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | $ 29,000,000 | 29,000,000 | 24,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 23,000,000 | 29,000,000 | 17,000,000 | |||
Restricted Awards [Member] | Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares available for grant | 370,000 | |||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 70.56 | |||||
Stock-based compensation plans award vesting period | 3 years | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | $ 5,000,000 | 4,000,000 | 3,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 2,000,000 | 4,000,000 | 3,000,000 | |||
Average award vesting period | 42 months | |||||
Number of unvested restricted units expected to vest | 181,650 | |||||
Period expected for vesting unvested restricted units | 30 months | |||||
Compensation paid for awards | $ 2,000,000 | $ 1,000,000 | $ 2,000,000 | |||
Maximum [Member] | Incentive Stock Options [Member] | Equity Ownership And Long Term Cash Incentive Plan 2011 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares authorized | 2,000,000 | |||||
Maximum [Member] | Incentive Stock Options [Member] | Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares authorized | 1,500,000 | |||||
Maximum [Member] | Non-option Grant [Member] | Equity Ownership And Long-Term Cash Incentive Plan 2007 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares authorized | 2,000,000 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Financial Information Of Options) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense included in Entergy's Consolidated Net Income for the year | $ 4.4 | $ 4.3 | $ 4.1 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 1.7 | 1.6 | 1.6 |
Compensation cost capitalized as part of fixed assets and inventory | 0.7 | 0.7 | 0.7 |
Restricted Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 23 | 29 | 17 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 19.8 | 19.5 | 19.3 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 7.6 | 7.5 | 7.5 |
Compensation cost capitalized as part of fixed assets and inventory | 4.5 | 3.9 | 3.1 |
Long-Term Incentive Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense included in Entergy's Consolidated Net Income for the year | 12.3 | 11.8 | 10.7 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 4.8 | 4.5 | 4.1 |
Compensation cost capitalized as part of fixed assets and inventory | 2.9 | 2.3 | 1.5 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 2 | 4 | 3 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 2.2 | 0.9 | 2.2 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 0.8 | 0.4 | 0.9 |
Compensation cost capitalized as part of fixed assets and inventory | $ 0.4 | $ 0.3 | $ 0.3 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Option Weighted-Average Assumptions Used In Determining Fair Values) (Details) - Employee Stock Option [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock price volatility | 20.38% | 23.62% | 24.67% |
Expected term | 7 years 90 days | 7 years 22 days | 6 years 11 months 13 days |
Risk-free interest rate | 1.77% | 1.59% | 2.16% |
Dividend yield | 4.50% | 4.50% | 4.75% |
Dividend payment per share | $ 3.42 | $ 3.34 | $ 3.32 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 7,399,820 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 84.19 | ||
Number of options granted | 696,900 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 70.56 | ||
Number of options exercised | (488,131) | ||
Options exercised, Weighted-average exercise price (in usd per share) | $ 67.83 | ||
Number of Options forfeited/expired | (471,379) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 69.99 | ||
Number of options outstanding, Ending balance | 7,137,210 | 7,399,820 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 84.91 | $ 84.19 | |
Weighted-Average Contractual Life, Options outstanding | 3 years 4 months 7 days | ||
Options exercisable, Number of Options | 6,011,816 | ||
Options exercisable, Weighted-Average Exercise Price (in usd per share) | $ 86.96 | ||
Options exercisable, Aggregate intrinsic value (in usd per share) | $ 0 | ||
Weighted-Average Contractual Life, Options exercisable | 2 years 4 months 18 days | ||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 7.40 | $ 11.41 | $ 8.71 |
Restricted Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 642,729 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 75.88 | ||
Number of options granted | 401,358 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 70.89 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (324,862) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 71.83 | ||
Number of Options forfeited/expired | (35,751) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 77.38 | ||
Number of options outstanding, Ending balance | 683,474 | 642,729 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 74.80 | $ 75.88 | |
Long-Term Incentive Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 568,482 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 75.33 | ||
Number of options granted | 241,236 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 85.26 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (54,103) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 65.36 | ||
Number of Options forfeited/expired | (184,064) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 70.53 | ||
Number of options outstanding, Ending balance | 571,551 | 568,482 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 82.02 | $ 75.33 | |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 145,018 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 72.03 | ||
Number of options granted | 70,800 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 76.25 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (30,668) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 70.66 | ||
Number of Options forfeited/expired | (3,500) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 66.83 | ||
Number of options outstanding, Ending balance | 181,650 | 145,018 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 74.94 | $ 72.03 |
Stock-Based Compensation (Su116
Stock-Based Compensation (Summary Of Stock Options Outstanding Information) (Details) - Employee Stock Option [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | $ 51 |
Exercise Price, maximum (in usd per share) | $ 108.20 |
Number of Outstanding Options | shares | 7,137,210 |
Weighted-Avg. Remaining Contractual Life-Yrs | 3 years 4 months 7 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 84.91 |
Number of Exercisable Options | shares | 6,011,816 |
Weighted-Avg. Exercise Price (in usd per share) | $ 86.96 |
Range Of Exercise Prices 2 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 65 |
Exercise Price, maximum (in usd per share) | $ 78.99 |
Number of Outstanding Options | shares | 2,853,753 |
Weighted-Avg. Remaining Contractual Life-Yrs | 4 years 7 months 28 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 74.47 |
Number of Exercisable Options | shares | 2,161,853 |
Weighted-Avg. Exercise Price (in usd per share) | $ 75.72 |
Range Of Exercise Prices 3 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 79 |
Exercise Price, maximum (in usd per share) | $ 91.99 |
Number of Outstanding Options | shares | 2,050,549 |
Weighted-Avg. Remaining Contractual Life-Yrs | 1 year 10 months 3 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 91.40 |
Number of Exercisable Options | shares | 1,787,470 |
Weighted-Avg. Exercise Price (in usd per share) | $ 91.62 |
Range Of Exercise Prices 4 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 92 |
Exercise Price, maximum (in usd per share) | $ 108.20 |
Number of Outstanding Options | shares | 1,434,600 |
Weighted-Avg. Remaining Contractual Life-Yrs | 1 year 22 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 108.20 |
Number of Exercisable Options | shares | 1,434,600 |
Weighted-Avg. Exercise Price (in usd per share) | $ 108.20 |
Range Of Exercise Prices1 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 51 |
Exercise Price, maximum (in usd per share) | $ 64.99 |
Number of Outstanding Options | shares | 798,308 |
Weighted-Avg. Remaining Contractual Life-Yrs | 6 years 8 months 5 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 63.75 |
Number of Exercisable Options | shares | 627,893 |
Weighted-Avg. Exercise Price (in usd per share) | $ 63.90 |
Business Segment Information (N
Business Segment Information (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Asset Write-Offs, Impairments, And Related Charges | $ 2,835,637 | $ 2,104,906 | $ 123,527 |
Entergy Wholesale Commodities [Member] | |||
Segment Reporting Information [Line Items] | |||
Restructuring costs incurred, pre-tax | 95,500 | ||
Asset Write-Offs, Impairments, And Related Charges | 2,800,000 | $ 2,000,000 | |
Projected Severance and Employee Retention Costs for 2017 | 100,000 | ||
Projected Severance and Employee Retention Costs for 2018-2021 | $ 235,000 |
Business Segment Information (S
Business Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Segment Financial Information | |||||||||||||||
Interest expense | $ 666,370 | $ 643,469 | $ 627,507 | ||||||||||||
Income Tax Expense (Benefit) | (817,259) | (642,927) | 589,597 | ||||||||||||
Consolidated net income (loss) | $ (1,765,539) | $ 393,204 | $ 572,590 | $ 235,242 | $ 104,849 | $ (718,233) | $ 153,722 | $ 302,929 | (564,503) | [1] | (156,734) | [1] | 960,257 | [1] | |
Total assets | 45,904,434 | 44,647,681 | 45,904,434 | 44,647,681 | |||||||||||
Investment in affiliates - at equity | 198 | 4,341 | 198 | 4,341 | |||||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,835,637 | 2,104,906 | 179,752 | ||||||||||||
Utility Plants [Member] | |||||||||||||||
Segment Financial Information | |||||||||||||||
Operating revenues | 8,996,106 | 9,451,486 | 9,773,822 | ||||||||||||
Depreciation, amortization, & decommissioning | 1,298,043 | 1,238,832 | 1,170,122 | ||||||||||||
Interest and investment income | 189,994 | 191,546 | 171,217 | ||||||||||||
Interest expense | 557,546 | 543,132 | 531,729 | ||||||||||||
Income Tax Expense (Benefit) | 424,388 | 16,761 | 472,148 | ||||||||||||
Consolidated net income (loss) | 1,151,133 | 1,114,516 | 846,496 | ||||||||||||
Total assets | 41,098,751 | 38,356,906 | 41,098,751 | 38,356,906 | 38,186,286 | ||||||||||
Investment in affiliates - at equity | 198 | 199 | 198 | 199 | 199 | ||||||||||
Cash paid for long-lived asset additions | 3,754,225 | 2,495,194 | 2,113,631 | ||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 68,672 | 72,225 | ||||||||||||
Entergy Wholesale Commodities [Member] | |||||||||||||||
Segment Financial Information | |||||||||||||||
Operating revenues | [2] | 1,849,638 | 2,061,827 | 2,719,404 | |||||||||||
Depreciation, amortization, & decommissioning | [2] | 374,922 | 376,560 | 417,435 | |||||||||||
Interest and investment income | [2] | 108,466 | 148,654 | 113,959 | |||||||||||
Interest expense | [2] | 22,858 | 26,788 | 16,646 | |||||||||||
Income Tax Expense (Benefit) | [2] | (1,192,263) | (610,339) | 176,988 | |||||||||||
Consolidated net income (loss) | [2] | (1,493,124) | (1,065,657) | 294,521 | |||||||||||
Total assets | [2] | 6,696,038 | 8,210,183 | 6,696,038 | 8,210,183 | 10,279,500 | |||||||||
Investment in affiliates - at equity | [2] | 0 | 4,142 | 0 | 4,142 | 36,035 | |||||||||
Cash paid for long-lived asset additions | [2] | 289,639 | 569,824 | 615,021 | |||||||||||
Asset Write-Offs, Impairments, And Related Charges | [2] | 2,835,637 | 2,036,234 | 107,527 | |||||||||||
All Other [Member] | |||||||||||||||
Segment Financial Information | |||||||||||||||
Operating revenues | 0 | 0 | 1,821 | ||||||||||||
Depreciation, amortization, & decommissioning | 1,647 | 2,156 | 3,702 | ||||||||||||
Interest and investment income | 27,385 | 34,303 | 22,159 | ||||||||||||
Interest expense | 139,090 | 129,750 | 120,908 | ||||||||||||
Income Tax Expense (Benefit) | (49,384) | (49,349) | (59,539) | ||||||||||||
Consolidated net income (loss) | (94,917) | (74,353) | (62,887) | ||||||||||||
Total assets | 1,283,816 | (461,505) | 1,283,816 | (461,505) | (659,207) | ||||||||||
Investment in affiliates - at equity | 0 | 0 | 0 | 0 | 0 | ||||||||||
Cash paid for long-lived asset additions | 393 | 236 | 87 | ||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 0 | ||||||||||||
Eliminations [Member] | |||||||||||||||
Segment Financial Information | |||||||||||||||
Operating revenues | (99) | (62) | (126) | ||||||||||||
Depreciation, amortization, & decommissioning | 0 | 0 | 0 | ||||||||||||
Interest and investment income | (180,718) | (187,441) | (159,649) | ||||||||||||
Interest expense | (53,124) | (56,201) | (41,776) | ||||||||||||
Income Tax Expense (Benefit) | 0 | 0 | 0 | ||||||||||||
Consolidated net income (loss) | (127,595) | (131,240) | (117,873) | ||||||||||||
Total assets | (3,174,171) | (1,457,903) | (3,174,171) | (1,457,903) | (1,392,124) | ||||||||||
Investment in affiliates - at equity | 0 | 0 | 0 | 0 | 0 | ||||||||||
Cash paid for long-lived asset additions | 0 | 0 | 0 | ||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 0 | ||||||||||||
Consolidated Entities [Member] | |||||||||||||||
Segment Financial Information | |||||||||||||||
Operating revenues | 10,845,645 | 11,513,251 | 12,494,921 | ||||||||||||
Depreciation, amortization, & decommissioning | 1,674,612 | 1,617,548 | 1,591,259 | ||||||||||||
Interest and investment income | 145,127 | 187,062 | 147,686 | ||||||||||||
Interest expense | 666,370 | 643,469 | 627,507 | ||||||||||||
Income Tax Expense (Benefit) | (817,259) | (642,927) | 589,597 | ||||||||||||
Consolidated net income (loss) | (564,503) | (156,734) | 960,257 | ||||||||||||
Total assets | 45,904,434 | 44,647,681 | 45,904,434 | 44,647,681 | 46,414,455 | ||||||||||
Investment in affiliates - at equity | $ 198 | $ 4,341 | 198 | 4,341 | 36,234 | ||||||||||
Cash paid for long-lived asset additions | 4,044,257 | 3,065,254 | 2,728,739 | ||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 2,835,637 | $ 2,104,906 | $ 179,752 | ||||||||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. | ||||||||||||||
[2] | 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. |
Business Segment Information119
Business Segment Information Business Segment Information (Restructuring Costs) (Details) - Entergy Wholesale Commodities [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | $ 95.5 |
Paid in cash | 0.9 |
Non-cash portion | 3.1 |
Restructuring Reserve | 91.5 |
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | 74.2 |
Paid in cash | 0.9 |
Non-cash portion | 3.1 |
Restructuring Reserve | 70.2 |
Economic Development Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | 21.3 |
Paid in cash | 0 |
Non-cash portion | 0 |
Restructuring Reserve | $ 21.3 |
Acquisitions, Dispositions, 120
Acquisitions, Dispositions, and Impairment of Long-Lived Assets (Narrative) (Details) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
Nov. 30, 2016USD ($) | Aug. 31, 2016USD ($) | Mar. 31, 2016USD ($)MW | Dec. 31, 2015USD ($)MW | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2022$ / MWh | Dec. 31, 2016USD ($)$ / MWh | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2007$ / MWh | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Sep. 30, 2014USD ($) | ||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 2,835,637,000 | $ 2,104,906,000 | $ 179,752,000 | ||||||||||||||
Line of credit facility, maximum borrowing capacity | 3,500,000,000 | ||||||||||||||||
Amount Drawn/ Outstanding | 700,000,000 | ||||||||||||||||
Receivables recorded for beneficial interests in decommissioning trust funds | $ 1,500,000,000 | ||||||||||||||||
Decommissioning Fund Investments | $ 5,349,953,000 | 5,723,897,000 | 5,349,953,000 | ||||||||||||||
Gain on sale of asset | 0 | 154,037,000 | 0 | ||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,835,637,000 | 2,104,906,000 | 123,527,000 | ||||||||||||||
Decommissioning | 327,425,000 | 280,272,000 | 272,621,000 | ||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Retirement Obligation | 872,300,000 | $ 818,400,000 | 924,400,000 | 872,300,000 | 818,400,000 | ||||||||||||
Decommissioning Fund Investments | 771,313,000 | 834,735,000 | 771,313,000 | ||||||||||||||
Decommissioning | 53,610,000 | 50,414,000 | 46,972,000 | ||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (237,000,000) | ||||||||||||||||
Asset Retirement Obligation | 2,700,000 | 2,500,000 | 2,900,000 | 2,700,000 | 2,500,000 | ||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 16,000,000 | ||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | (474,000,000) | ||||||||||||||||
Asset Retirement Obligation | 1,027,900,000 | 950,300,000 | 1,082,700,000 | 1,027,900,000 | 950,300,000 | ||||||||||||
Decommissioning Fund Investments | 1,042,293,000 | 1,140,707,000 | 1,042,293,000 | ||||||||||||||
Decommissioning | 46,944,000 | 43,445,000 | 41,493,000 | ||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Retirement Obligation | 8,300,000 | 6,800,000 | $ 8,700,000 | 8,300,000 | 6,800,000 | ||||||||||||
India Point Three [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Future payment to NYPA for power sold | $ / MWh | 6.59 | ||||||||||||||||
Annual cap for future payment to NYPA for power sold | $ 48,000,000 | ||||||||||||||||
FitzPatrick [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Future payment to NYPA for power sold | $ / MWh | 3.91 | ||||||||||||||||
Annual cap for future payment to NYPA for power sold | $ 24,000,000 | ||||||||||||||||
Asset Retirement Obligation | 0 | 714,300,000 | 0 | ||||||||||||||
Decommissioning Fund Investments | 785,000,000 | ||||||||||||||||
Entergy Nuclear Vermont Yankee [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 100,000,000 | 100,000,000 | |||||||||||||||
Proceeds From Sale of Preferred Membership Units | 1,000 | ||||||||||||||||
Amount Drawn/ Outstanding | 45,000,000 | ||||||||||||||||
Net Book Value | 88,000,000 | ||||||||||||||||
Closing condition on market value of decommissioning trust fund investments | 451,950,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Retirement Obligation | 300,000 | $ 0 | 300,000 | 300,000 | 0 | ||||||||||||
Indian Point Energy Center Units [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 2,343,000,000 | ||||||||||||||||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.20% | ||||||||||||||||
Carrying Value of Nuclear Plant | $ 2,619,000,000 | ||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,186,000,000 | ||||||||||||||||
Asset Impairment Charges | 157,000,000 | ||||||||||||||||
After-Tax Asset Impairment Charge | 1,511,000,000 | ||||||||||||||||
Assets, Fair Value Disclosure | 433,000,000 | ||||||||||||||||
Increase in decommissioning liability | 392,000,000 | ||||||||||||||||
Indian Point Energy Center Units [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Carrying Value of Nuclear Plant | $ 2,360,000,000 | $ 2,360,000,000 | |||||||||||||||
Palisades [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 400,000,000 | ||||||||||||||||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | 6.50% | 7.50% | ||||||||||||||
Carrying Value of Nuclear Plant | $ 558,000,000 | ||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 352,000,000 | ||||||||||||||||
Asset Impairment Charges | 48,000,000 | ||||||||||||||||
After-Tax Asset Impairment Charge | 258,000,000 | ||||||||||||||||
Assets, Fair Value Disclosure | 206,000,000 | ||||||||||||||||
Increase in decommissioning liability | 129,000,000 | ||||||||||||||||
Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | [1] | 2,835,637,000 | $ 2,036,234,000 | 107,527,000 | |||||||||||||
Contingent consideration recorded as plant | 72,000,000 | ||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,800,000,000 | $ 2,000,000,000 | |||||||||||||||
FitzPatrick [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | 7.50% | |||||||||||||||
Non-refundable signing fee paid upon agreement and assumption by Exelon of certain liabilities | $ 10,000,000 | ||||||||||||||||
Nuclear fuel expense reimbursement | 56,000,000 | ||||||||||||||||
Other operation and maintenance expense reimbursement | 41,000,000 | ||||||||||||||||
Termination fee payable to Entergy if FitzPatrick purchase agreement terminated | 30,000,000 | ||||||||||||||||
Receivables recorded for beneficial interests in decommissioning trust funds | 785,000,000 | ||||||||||||||||
Asset Retirement Obligation | 714,000,000 | ||||||||||||||||
Proceeds from sale of business | $ 100,000,000 | ||||||||||||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Carrying Value of Nuclear Plant | $ 0 | ||||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Time period of PPA | 15 years | ||||||||||||||||
Percentage of plants output covered by PPA | 100.00% | ||||||||||||||||
Price under PPA, lower range | $ / MWh | 43.50 | ||||||||||||||||
Average price under PPA | $ / MWh | 51 | ||||||||||||||||
Amounts amortized to revenue | $ 13,000,000 | $ 15,000,000 | $ 16,000,000 | ||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Accelerated Finite Lived Intangible Assets Amortization Expenses | $ 29,000,000 | $ 43,000,000 | |||||||||||||||
Scenario, Forecast [Member] | Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Price under PPA, upper range | $ / MWh | 61.50 | ||||||||||||||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Increase in decommissioning liability | $ 101,600,000 | ||||||||||||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 677,000,000 | ||||||||||||||||
Carrying Value of Nuclear Plant | 718,000,000 | ||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 653,000,000 | ||||||||||||||||
Asset Impairment Charges | 24,000,000 | ||||||||||||||||
After-Tax Asset Impairment Charge | 438,000,000 | ||||||||||||||||
Decommissioning | 134,000,000 | ||||||||||||||||
Assets, Fair Value Disclosure | 65,000,000 | ||||||||||||||||
Rhode Island State Energy Center [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Capacity Of Power Plant Unit | MW | 583 | ||||||||||||||||
Gain on sale of asset | $ 154,000,000 | ||||||||||||||||
Rhode Island State Energy Center [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Capacity Of Power Plant Unit | MW | 583 | ||||||||||||||||
Proceeds from sale of business | $ 490,000,000 | ||||||||||||||||
Gain on sale of asset | 154,000,000 | ||||||||||||||||
Union Power Station [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Capacity Of Power Plant Unit | MW | 1,980 | ||||||||||||||||
Capacity Per Power Block | MW | 495 | ||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ 0 | ||||||||||||||||
Union Power Station [Member] | Entergy Arkansas [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (237,323,000) | ||||||||||||||||
Power Blocks Purchased | 1,000,000 | ||||||||||||||||
Percentage of Undivided Ownership Interest | 25.00% | ||||||||||||||||
Union Power Station [Member] | Entergy New Orleans [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (237,335,000) | ||||||||||||||||
Power Blocks Purchased | 1,000,000 | ||||||||||||||||
Percentage of Undivided Ownership Interest | 25.00% | ||||||||||||||||
Union Power Station [Member] | Entergy Louisiana [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (474,670,000) | ||||||||||||||||
Power Blocks Purchased | 2,000,000 | ||||||||||||||||
Percentage of Undivided Ownership Interest | 50.00% | ||||||||||||||||
Top Deer [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Proceeds from sale of business | $ 500,000 | ||||||||||||||||
Gain on sale of asset | $ 200,000 | ||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Carrying Value of Nuclear Plant | $ 0 | ||||||||||||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 965,000,000 | ||||||||||||||||
Carrying Value of Nuclear Plant | 742,000,000 | ||||||||||||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 335,000,000 | ||||||||||||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost After Impairment | 131,000,000 | ||||||||||||||||
Change in Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 204,000,000 | ||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 713,000,000 | ||||||||||||||||
Asset Impairment Charges | 48,000,000 | ||||||||||||||||
After-Tax Asset Impairment Charge | 624,000,000 | ||||||||||||||||
Assets, Fair Value Disclosure | $ 29,000,000 | ||||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Carrying Value of Nuclear Plant | 859,000,000 | 859,000,000 | |||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 396,000,000 | ||||||||||||||||
Assets, Fair Value Disclosure | 463,000,000 | 463,000,000 | |||||||||||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | 256,000,000 | ||||||||||||||||
Increase in decommissioning liability | $ 42,000,000 | $ 42,000,000 | |||||||||||||||
[1] | 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. |
Acquisitions, Dispositions, 121
Acquisitions, Dispositions, and Impairment of Long-Lived Assets Acquisitions, Dispositions, and Impairments of Long-Lived Assets (Significant Unobservable Inputs) (Details) | Dec. 31, 2016 | Dec. 31, 2015 |
Indian Point Energy Center Units [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.20% | |
Operating Margin Used In Asset Valuation | 19.70% | |
Palisades [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 6.50% | 7.50% |
Operating Margin Used In Asset Valuation | 34.60% | 30.80% |
FitzPatrick [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 10.20% | |
Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.90% | |
Operating Margin Used In Asset Valuation | 8.10% | |
Minimum [Member] | Indian Point Energy Center Units [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.00% | |
Minimum [Member] | Palisades [Member] | ||
Operating Margin Used In Asset Valuation | 17.80% | |
Minimum [Member] | Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 2.40% | |
Maximum [Member] | Indian Point Energy Center Units [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Maximum [Member] | Palisades [Member] | ||
Operating Margin Used In Asset Valuation | 38.80% | |
Maximum [Member] | Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 8.00% | |
Operating Margin Used In Asset Valuation | 10.60% |
Risk Management and Fair Val122
Risk Management and Fair Values (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)GWhMMBTUTWhcounterparty | Dec. 31, 2015USD ($)counterparty | Dec. 31, 2014USD ($) | |
Risk Management and Fair Values [Abstract] | |||
Included in earnings | $ 0 | $ 3,000 | $ 120,000 |
Cash flow hedges relating to power sales as part of net unrealized gains | (9,000) | ||
Reclassified from accumulated other comprehensive income (OCI) to operating revenues | (15,000) | ||
Maturity of cash flow hedges, Tax | $ 103,000 | $ (85,000) | (68,000) |
Planned generation sold forward from non utility nuclear power plants | 87.00% | ||
Planned Generation Sold Forward under financial derivatives | 59.00% | ||
Total planned generation for remainder of the period | TWh | 27.3 | ||
Number of Derivative Contract Counterparties in a Liability Position | counterparty | 3 | 2 | |
Change in cash flow hedges due to ineffectiveness | $ (356) | $ 0 | $ 7,000 |
Hedge Contracts In Liability Position | $ 8,000 | 2,000 | |
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 37,970,000 | ||
Total volume of FTRs outstanding (MWh) | GWh | 46,216 | ||
Cash collateral posted | $ 2,000 | 9,000 | |
Derivative, Collateral, Obligation to Return Cash | $ 68,000 | ||
Entergy Arkansas [Member] | |||
Risk Management and Fair Values [Abstract] | |||
Letters of Credit Outstanding, Amount | $ 300 | ||
Total volume of FTRs outstanding (MWh) | GWh | 10,540 | ||
Entergy Louisiana [Member] | |||
Risk Management and Fair Values [Abstract] | |||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 30,940,000 | ||
Total volume of FTRs outstanding (MWh) | GWh | 19,467 | ||
Entergy Mississippi [Member] | |||
Risk Management and Fair Values [Abstract] | |||
Letters of Credit Outstanding, Amount | $ 100 | ||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 6,540,000 | ||
Total volume of FTRs outstanding (MWh) | GWh | 7,535 | ||
Entergy New Orleans [Member] | |||
Risk Management and Fair Values [Abstract] | |||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 490,000 | ||
Total volume of FTRs outstanding (MWh) | GWh | 2,234 | ||
Entergy Texas [Member] | |||
Risk Management and Fair Values [Abstract] | |||
Total volume of FTRs outstanding (MWh) | GWh | 6,248 | ||
Maximum [Member] | |||
Risk Management and Fair Values [Abstract] | |||
Hedging the Variability in Future Cash Flow, Period | 2 years 3 months |
Risk Management and Fair Val123
Risk Management and Fair Values (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Derivative asset as hedging instrument offset | $ (68) | |
Liabilities: | ||
Cash collateral posted | $ 2 | 9 |
Prepayments And Other [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 25 | 173 |
Derivative asset as hedging instrument offset | (14) | (34) |
Derivative asset, net | 11 | 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 | 18 | 54 |
Derivative asset as hedging instrument offset | (13) | (13) |
Derivative asset, net | 5 | 41 |
Prepayments And Other [Member] | Natural Gas Swaps [Member] | Utility Plants [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 13 | |
Derivative asset, net | 13 | |
Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Utility and Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 22 | 24 |
Derivative asset as hedging instrument offset | (1) | (1) |
Derivative asset, net | 21 | 23 |
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 | 6 | 17 |
Derivative asset as hedging instrument offset | (6) | (2) |
Derivative asset, net | 0 | 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 | 5 | |
Derivative asset as hedging instrument offset | (5) | |
Derivative asset, net | 0 | |
Other Non-Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 16 | 2 |
Derivative liability as hedging instrument offset | (7) | (2) |
Derivative liability, net | 9 | 0 |
Derivative Liability, Fair Value, Gross Liability | 16 | 2 |
Other Non-Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 4 | |
Derivative liability as hedging instrument offset | (4) | |
Derivative liability, net | 0 | |
Derivative Liability, Fair Value, Gross Liability | 4 | |
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 11 | 14 |
Derivative liability as hedging instrument offset | (10) | (14) |
Derivative liability, net | 1 | 0 |
Derivative Liability, Fair Value, Gross Liability | 11 | 14 |
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 18 | 38 |
Derivative liability as hedging instrument offset | (17) | (32) |
Derivative liability, net | 1 | 6 |
Derivative Liability, Fair Value, Gross Liability | 18 | 38 |
Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility Plants [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 9 | |
Derivative liability, net | 9 | |
Derivative Liability, Fair Value, Gross Liability | 9 | |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 10.9 | |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 8.5 | 8.5 |
Entergy Louisiana [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative liability, net | 7 | |
Entergy Mississippi [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 2.3 | |
Entergy Mississippi [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 3.2 | 2.4 |
Entergy Mississippi [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative liability, net | 1.3 | |
Entergy New Orleans [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 0.2 | |
Entergy New Orleans [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 1.1 | 1.5 |
Entergy New Orleans [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative liability, net | 0.5 | |
Entergy Texas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 3.1 | 2.2 |
Entergy Arkansas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | $ 5.4 | $ 7.9 |
Risk Management and Fair Val124
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 | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Effect of Derivative instruments designated as cash flow hedges on consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI (effective portion) | $ 135 | $ 254 | $ 81 |
Amount of gain reclassified from accumulated OCI into income (effective portion) | $ 293 | $ (244) | $ (193) |
Risk Management and Fair Val125
Risk Management and Fair Values (Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income) (Details) - Not Designated As Hedging Instrument [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI | $ 0 | $ 0 | $ 0 |
Amount of gain (loss) recorded in income | 11 | (41) | (8) |
Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI | 0 | 0 | 0 |
Amount of gain (loss) recorded in income | 125 | 166 | 229 |
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 | |||
Amount of gain (loss) recognized in AOCI | 0 | 12 | (13) |
Amount of gain (loss) recorded in income | (11) | (19) | 56 |
Entergy Louisiana [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 8.4 | (33.2) | (5.5) |
Entergy Louisiana [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 69.7 | 55.4 | 103.5 |
Entergy Mississippi [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 3.1 | (6.1) | (2.5) |
Entergy Mississippi [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 16.6 | 16.5 | 19 |
Entergy New Orleans [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | (0.4) | (1.4) | (0.2) |
Entergy New Orleans [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 4.1 | 8.5 | 16.5 |
Entergy Arkansas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 23.2 | 68.7 | 21.6 |
Entergy Texas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | $ 10.2 | $ 16.8 | $ 65.8 |
Risk Management and Fair Val126
Risk Management and Fair Values (Assets And Liabilities At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | $ 5,724 | $ 5,350 |
Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 1,058 | 1,287 |
Total | 7,311 | 7,330 |
Liabilities at fair value on a recurring basis | ||
Total | 15 | |
Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 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 | 11 | 6 |
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 480 | 468 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 2,213 | 2,155 |
Power Contracts Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 16 | 195 |
Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 46 | 50 |
Escrow Accounts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 433 | 425 |
Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 21 | 23 |
Common trust funds valued using Net Asset Value [Domain] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 3,031 | 2,727 |
Gas Hedge Contracts Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 13 | |
Fair Value Inputs Level 1 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 1,058 | 1,287 |
Total | 3,015 | 3,291 |
Liabilities at fair value on a recurring basis | ||
Total | 9 | |
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 | 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 | 0 |
Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 480 | 468 |
Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 985 | 1,061 |
Fair Value Inputs Level 1 [Member] | Power Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 46 | 50 |
Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 433 | 425 |
Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 13 | |
Fair Value Inputs Level 2 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 1,228 | 1,094 |
Liabilities at fair value on a recurring basis | ||
Total | 0 | |
Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 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 | 0 |
Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 1,228 | 1,094 |
Fair Value Inputs Level 2 [Member] | Power Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Fair Value Inputs Level 3 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 37 | 218 |
Liabilities at fair value on a recurring basis | ||
Total | 6 | |
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 | |
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 | 11 | 6 |
Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 3 [Member] | Power Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 16 | 195 |
Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 21 | 23 |
Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Entergy Texas [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 5 | |
Total | 45.6 | 40.4 |
Entergy Texas [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 37.5 | 38.2 |
Entergy Texas [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 3.1 | 2.2 |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 5 | |
Total | 42.5 | 38.2 |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 37.5 | 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 | ||
Available-for-sale Securities | 0 | 0 |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | |
Total | 0 | 0 |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | |
Total | 3.1 | 2.2 |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 3.1 | 2.2 |
Entergy New Orleans [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 103 | 87.8 |
Total | 194.6 | 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] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 1.7 | 4.6 |
Entergy New Orleans [Member] | Escrow Accounts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 88.6 | 81 |
Entergy New Orleans [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 1.1 | 1.5 |
Entergy New Orleans [Member] | Gas Hedge Contracts Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0.2 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 103 | 87.8 |
Total | 193.5 | 173.4 |
Entergy New Orleans [Member] | 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 | 0.5 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 1.7 | 4.6 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 88.6 | 81 |
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 | ||
Available-for-sale Securities | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0.2 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 1.1 | 1.5 |
Entergy New Orleans [Member] | 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 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 1.1 | 1.5 |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Entergy Mississippi [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 76.8 | 144.2 |
Total | 114.1 | 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 | 1.3 | |
Entergy Mississippi [Member] | Escrow Accounts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 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 | ||
Available-for-sale Securities | 3.2 | 2.4 |
Entergy Mississippi [Member] | Gas Hedge Contracts Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 2.3 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 76.8 | 144.2 |
Total | 110.9 | 185.9 |
Entergy Mississippi [Member] | 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 | 1.3 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 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 | ||
Available-for-sale Securities | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 2.3 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 3.2 | 2.4 |
Entergy Mississippi [Member] | 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 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 3.2 | 2.4 |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Entergy Louisiana [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 1,140.7 | 1,042.3 |
Entergy Louisiana [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 163.9 | 34.8 |
Total | 1,632.5 | 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 | 7 | |
Entergy Louisiana [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 13.9 | 7.1 |
Entergy Louisiana [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 424.8 | 409.9 |
Entergy Louisiana [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 2.8 | 3.2 |
Entergy Louisiana [Member] | Escrow Accounts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 305.7 | 290.4 |
Entergy Louisiana [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 8.5 | 8.5 |
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 | ||
Available-for-sale Securities | 702 | 625.3 |
Entergy Louisiana [Member] | Gas Hedge Contracts Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 10.9 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 163.9 | 34.8 |
Total | 629.5 | 496.6 |
Entergy Louisiana [Member] | 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 | 7 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 13.9 | 7.1 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 132.3 | 161.1 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 2.8 | 3.2 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 305.7 | 290.4 |
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 | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 10.9 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 292.5 | 248.8 |
Entergy Louisiana [Member] | 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 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 292.5 | 248.8 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 8.5 | 8.5 |
Entergy Louisiana [Member] | 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 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 8.5 | 8.5 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | |
Entergy Arkansas [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 834.7 | 771.3 |
Entergy Arkansas [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Total | 851.3 | 795.6 |
Entergy Arkansas [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 3.6 | 3 |
Entergy Arkansas [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 309.3 | 303.9 |
Entergy Arkansas [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 4.1 | 4.2 |
Entergy Arkansas [Member] | Escrow Accounts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 7.1 | 12.2 |
Entergy Arkansas [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 5.4 | 7.9 |
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 | ||
Available-for-sale Securities | 521.8 | 464.4 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets at fair value on a recurring basis | ||
Total | 127.3 | 129.9 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 3.6 | 3 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 112.5 | 110.5 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 4.1 | 4.2 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 7.1 | 12.2 |
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 | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets at fair value on a recurring basis | ||
Total | 196.8 | 193.4 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 196.8 | 193.4 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets at fair value on a recurring basis | ||
Total | 5.4 | 7.9 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 5.4 | 7.9 |
System Energy [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 780.5 | 701.5 |
System Energy [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 245.1 | 222 |
Total | 1,025.6 | 923.5 |
System Energy [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0.3 | 1.8 |
System Energy [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 306.6 | 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 | ||
Available-for-sale Securities | 473.6 | 421.9 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 245.1 | 222 |
Total | 493.7 | 442.4 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0.3 | 1.8 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 248.3 | 218.6 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 58.3 | 59.2 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 58.3 | 59.2 |
System Energy [Member] | Fair Value Inputs Level 3 [Member] | ||
Assets at fair value on a recurring basis | ||
Temporary cash investments | 0 | 0 |
Total | 0 | 0 |
System Energy [Member] | Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | 0 | 0 |
System Energy [Member] | Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | ||
Assets at fair value on a recurring basis | ||
Available-for-sale Securities | $ 0 | $ 0 |
Risk Management and Fair Val127
Risk Management and Fair Values (Reconciliation Of Changes In The Net Assets (Liabilities) For The Fair Value Of Derivatives Classified As Level 3 In The Fair Value Hierarchy) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Included in earnings | $ 0 | $ 3 | $ 120 |
Fixed Transmission Rights (FTRs) [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 23 | 47 | 34 |
Total gains (losses) for the period (a) | 0 | (1) | 2 |
Included in OCI | 0 | 0 | 0 |
Issuances of financial transmission rights | 55 | 80 | 121 |
Gains (losses) included as a regulatory liability/asset | 68 | 63 | 119 |
Purchases | 0 | 0 | 0 |
Settlements | (125) | (166) | (229) |
Balance as of End of Period | 21 | 23 | 47 |
Electricity Swaps And Options [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 189 | 215 | (133) |
Total gains (losses) for the period (a) | (10) | (20) | 55 |
Included in OCI | 135 | 254 | 131 |
Issuances of financial transmission rights | 0 | 0 | 0 |
Gains (losses) included as a regulatory liability/asset | 0 | 0 | 0 |
Purchases | 0 | 15 | 17 |
Settlements | (309) | (275) | 145 |
Balance as of End of Period | 5 | 189 | 215 |
Entergy Arkansas [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 7.9 | 0.7 | |
Issuances of financial transmission rights | 18.8 | 7 | |
Gains (losses) included as a regulatory liability/asset | 1.9 | 68.9 | |
Settlements | (23.2) | (68.7) | |
Balance as of End of Period | 5.4 | 7.9 | 0.7 |
Entergy Louisiana [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 8.5 | 25.5 | |
Issuances of financial transmission rights | 18.1 | 48.3 | |
Gains (losses) included as a regulatory liability/asset | 51.6 | (9.9) | |
Settlements | (69.7) | (55.4) | |
Balance as of End of Period | 8.5 | 8.5 | 25.5 |
Entergy Mississippi [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 2.4 | 3.4 | |
Issuances of financial transmission rights | 5.9 | 5.4 | |
Gains (losses) included as a regulatory liability/asset | 11.5 | 10.1 | |
Settlements | (16.6) | (16.5) | |
Balance as of End of Period | 3.2 | 2.4 | 3.4 |
Entergy New Orleans [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 1.5 | 4.1 | |
Issuances of financial transmission rights | 2.8 | 7.3 | |
Gains (losses) included as a regulatory liability/asset | 0.9 | (1.4) | |
Settlements | (4.1) | (8.5) | |
Balance as of End of Period | 1.1 | 1.5 | 4.1 |
Entergy Texas [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 2.2 | 12.3 | |
Issuances of financial transmission rights | 9.3 | 11.4 | |
Gains (losses) included as a regulatory liability/asset | 1.8 | (4.7) | |
Settlements | (10.2) | (16.8) | |
Balance as of End of Period | $ 3.1 | $ 2.2 | $ 12.3 |
Risk Management and Fair Val128
Risk Management and Fair Values (Schedules Of Valuation Techniques) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Electricity Swaps | $ 5 |
Range from Average Percentage for Fair Value of Electricity Swaps | 4.00% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Swaps | $ 0 |
Decommissioning Trust Funds (Na
Decommissioning Trust Funds (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)counterparty | Dec. 31, 2015USD ($)counterparty | Dec. 31, 2014USD ($) | |
Decommissioning Fund Investments | $ 5,723,897 | $ 5,349,953 | |
Number of Derivative Contract Counterparties in a Liability Position | counterparty | 3 | 2 | |
Decommissioning Trust Funds [Abstract] | |||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | $ 399,000 | $ 342,000 | |
Amortized cost of debt securities | $ 2,212,000 | 2,124,000 | |
Average coupon rate of debt securities | 3.21% | ||
Proceeds from the dispositions of debt securities | $ 2,409,000 | 2,492,000 | $ 1,872,000 |
Gains from dispositions of debt securities, gross | 32,000 | 72,000 | 39,000 |
Losses from dispositions of debt securities, gross | $ 13,000 | 13,000 | 8,000 |
Average Duration of Debt Securities in Years | 5 years 10 months 21 days | ||
Average Maturity of Debt Securities, Years | 9 years 4 months 22 days | ||
Hedge Contracts In Liability Position | $ 8,000 | 2,000 | |
Entergy Arkansas [Member] | |||
Decommissioning Fund Investments | 834,735 | 771,313 | |
Decommissioning Trust Funds [Abstract] | |||
Amortized cost of debt securities | $ 310,100 | 301,800 | |
Average coupon rate of debt securities | 2.65% | ||
Proceeds from the dispositions of debt securities | $ 197,400 | 213,000 | 181,500 |
Gains from dispositions of debt securities, gross | 1,800 | 5,900 | 8,700 |
Losses from dispositions of debt securities, gross | $ 800 | 300 | 300 |
Average Duration of Debt Securities in Years | 5 years 4 months 15 days | ||
Average Maturity of Debt Securities, Years | 6 years 3 months 23 days | ||
Entergy Louisiana [Member] | |||
Decommissioning Fund Investments | $ 1,140,707 | 1,042,293 | |
Percentage Interest in River Bend | 30.00% | ||
Decommissioning Trust Funds [Abstract] | |||
Amortized cost of debt securities | $ 421,900 | 399,200 | |
Average coupon rate of debt securities | 3.78% | ||
Proceeds from the dispositions of debt securities | $ 219,200 | 123,500 | 216,700 |
Gains from dispositions of debt securities, gross | 3,900 | 1,900 | 2,200 |
Losses from dispositions of debt securities, gross | $ 400 | 300 | 300 |
Average Duration of Debt Securities in Years | 5 years 7 months 3 days | ||
Average Maturity of Debt Securities, Years | 10 years 11 months 27 days | ||
System Energy [Member] | |||
Decommissioning Fund Investments | $ 780,496 | 701,460 | |
Decommissioning Trust Funds [Abstract] | |||
Amortized cost of debt securities | $ 309,100 | 270,700 | |
Average coupon rate of debt securities | 1.89% | ||
Proceeds from the dispositions of debt securities | $ 499,300 | 390,400 | 392,900 |
Gains from dispositions of debt securities, gross | 3,500 | 3,300 | 1,800 |
Losses from dispositions of debt securities, gross | $ 1,700 | $ 500 | $ 900 |
Average Duration of Debt Securities in Years | 5 years 15 days | ||
Average Maturity of Debt Securities, Years | 6 years 3 months 20 days | ||
Indian Point 3 [Member] | |||
Decommissioning Fund Investments | $ 719,000 | ||
FitzPatrick [Member] | |||
Decommissioning Fund Investments | 785,000 | ||
Indian Point 1 [Member] | |||
Decommissioning Fund Investments | 443,000 | ||
Indian Point 2 [Member] | |||
Decommissioning Fund Investments | 564,000 | ||
Palisades [Member] | |||
Decommissioning Fund Investments | 412,000 | ||
Pilgrim [Member] | |||
Decommissioning Fund Investments | 960,000 | ||
Vermont Yankee [Member] | |||
Decommissioning Fund Investments | $ 584,000 |
Decommissioning Trust Funds (Se
Decommissioning Trust Funds (Securities Held) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | $ 5,724 | $ 5,350 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,707 | 1,437 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 28 | 19 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 3,511 | 3,195 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,673 | 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 | 2,213 | 2,155 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 34 | 41 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 27 | 17 |
Entergy Louisiana [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 1,140.7 | 1,042.3 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 354.6 | 296.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 5 | 2.6 |
Entergy Louisiana [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 715.9 | 632.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 346.6 | 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 | 424.8 | 409.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 8 | 13.2 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 5 | 2.4 |
Entergy Arkansas [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 834.7 | 771.3 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 284.9 | 238.5 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.2 | 2.4 |
Entergy Arkansas [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 525.4 | 467.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 281.5 | 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 | 309.3 | 303.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 3.4 | 4.1 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.2 | 2.2 |
System Energy [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 780.5 | 701.5 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 223.9 | 181.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.6 | 2.6 |
System Energy [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 473.9 | 423.7 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 221.9 | 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 | 306.6 | 277.8 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 2 | 2.2 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 4.5 | $ 2.3 |
Decommissioning Trust Funds (Av
Decommissioning Trust Funds (Available For Sale Securities Continuous Unrealized Loss Position Fair Value) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 28 | $ 19 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 23 | 54 |
More than 12 months Fair Value | 1 | 1 |
Total Fair Value | 24 | 55 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 2 |
Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 2 |
Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 1,169 | 1,031 |
More than 12 months Fair Value | 20 | 61 |
Total Fair Value | 1,189 | 1,092 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 27 | 17 |
Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 26 | 15 |
Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 2 |
Entergy Arkansas [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.2 | 2.4 |
Entergy Arkansas [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0 | 7.8 |
More than 12 months Fair Value | 0 | 0 |
Total Fair Value | 0 | 7.8 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.2 |
Entergy Arkansas [Member] | Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.2 |
Entergy Arkansas [Member] | Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Arkansas [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 146.7 | 111.4 |
More than 12 months Fair Value | 0 | 18.5 |
Total Fair Value | 146.7 | 129.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.2 | 2.2 |
Entergy Arkansas [Member] | Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.2 | 1.7 |
Entergy Arkansas [Member] | Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.5 |
Entergy Louisiana [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 5 | 2.6 |
Entergy Louisiana [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0 | 9.4 |
More than 12 months Fair Value | 0 | 0 |
Total Fair Value | 0 | 9.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.2 |
Entergy Louisiana [Member] | Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.2 |
Entergy Louisiana [Member] | Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Louisiana [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 198.8 | 124 |
More than 12 months Fair Value | 4.8 | 7.4 |
Total Fair Value | 203.6 | 131.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 5 | 2.4 |
Entergy Louisiana [Member] | Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.8 | 2 |
Entergy Louisiana [Member] | Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.2 | 0.4 |
System Energy [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.6 | 2.6 |
System Energy [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0 | 8.3 |
More than 12 months Fair Value | 0 | 0.9 |
Total Fair Value | 0 | 9.2 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.1 | 0.3 |
System Energy [Member] | Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.2 |
System Energy [Member] | Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.1 | 0.1 |
System Energy [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 220.9 | 200.4 |
More than 12 months Fair Value | 0.8 | 5 |
Total Fair Value | 221.7 | 205.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.5 | 2.3 |
System Energy [Member] | Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 4.4 | 2.2 |
System Energy [Member] | Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 0.1 | $ 0.1 |
Decommissioning Trust Funds (Fa
Decommissioning Trust Funds (Fair Value Of Debt Securities By Contractual Maturities) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Fair value of debt securities by contractual maturities | ||
less than 1 year | $ 125 | $ 77 |
1 year - 5 years | 763 | 857 |
5 years - 10 years | 719 | 704 |
10 years - 15 years | 109 | 124 |
15 years - 20 years | 73 | 50 |
20 years | 424 | 343 |
Total | 2,213 | 2,155 |
Entergy Arkansas [Member] | ||
Fair value of debt securities by contractual maturities | ||
less than 1 year | 16.7 | 1.8 |
1 year - 5 years | 106.2 | 145.2 |
5 years - 10 years | 161.2 | 138.5 |
10 years - 15 years | 7.7 | 2.4 |
15 years - 20 years | 1 | 2 |
20 years | 16.5 | 14 |
Total | 309.3 | 303.9 |
Entergy Louisiana [Member] | ||
Fair value of debt securities by contractual maturities | ||
less than 1 year | 31.4 | 27.1 |
1 year - 5 years | 99.1 | 124 |
5 years - 10 years | 122.8 | 114.3 |
10 years - 15 years | 41.4 | 39.3 |
15 years - 20 years | 30.9 | 26.5 |
20 years | 99.2 | 78.7 |
Total | 424.8 | 409.9 |
System Energy [Member] | ||
Fair value of debt securities by contractual maturities | ||
less than 1 year | 6.6 | 2 |
1 year - 5 years | 188.2 | 181.2 |
5 years - 10 years | 78.5 | 63 |
10 years - 15 years | 1.3 | 4.4 |
15 years - 20 years | 7.8 | 1.6 |
20 years | 24.2 | 25.6 |
Total | $ 306.6 | $ 277.8 |
Variable Interest Entities (Det
Variable Interest Entities (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Entergy Louisiana [Member] | ||||
Variable Interest Entities (Textual) [Abstract] | ||||
Payments on lease, including interest | $ 9.2 | $ 28.8 | $ 31 | |
System Energy [Member] | ||||
Variable Interest Entities (Textual) [Abstract] | ||||
Payments on lease, including interest | $ 17.2 | $ 52.3 | $ 51.6 |
Transactions With Affiliates (D
Transactions With Affiliates (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Entergy Arkansas [Member] | |||
Intercompany revenues | $ 49.4 | $ 127.9 | $ 131.2 |
Intercompany operating expenses | 467.4 | 508.5 | 596.6 |
Entergy Louisiana [Member] | |||
Intercompany revenues | 376.6 | 420.2 | 440.2 |
Intercompany operating expenses | 670.8 | 929.4 | 1,027.6 |
Intercompany interest and investment income | 127.7 | 133.6 | 117.9 |
Entergy Mississippi [Member] | |||
Intercompany revenues | 2.9 | 86 | 169.8 |
Intercompany operating expenses | 256.5 | 331.8 | 367.6 |
Intercompany interest and investment income | 0.1 | 0 | 0 |
Entergy New Orleans [Member] | |||
Intercompany revenues | 30.3 | 66.1 | 80.1 |
Intercompany operating expenses | 276.7 | 278.4 | 249.5 |
Entergy Texas [Member] | |||
Intercompany revenues | 180.2 | 259.1 | 316.1 |
Intercompany operating expenses | 343.7 | 413.7 | 445.3 |
System Energy [Member] | |||
Intercompany revenues | 548.3 | 632.4 | 664.4 |
Intercompany operating expenses | 146 | 155.1 | 156.7 |
Intercompany interest and investment income | $ 0.1 | $ 0 | $ 0 |
Transactions With Affiliates Tr
Transactions With Affiliates Transactions with Affiliates (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
EWO Marketing, LLC [Member] | RS Cogen [Member] | |||
Related Party Transaction [Line Items] | |||
Capacity Charge and Gas Transportation Expense | $ 24.7 | $ 24.5 | $ 23.1 |
Quarterly Financial Data (Detai
Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||||
Operating revenues | $ 2,648,528 | $ 3,124,703 | $ 2,462,562 | $ 2,609,852 | $ 2,508,523 | $ 3,371,406 | $ 2,713,231 | $ 2,920,090 | $ 10,845,645 | $ 11,513,251 | $ 12,494,921 | |||
Operating income (loss) | (2,599,001) | 772,060 | 442,258 | 498,218 | (254,300) | (965,016) | 377,383 | 542,769 | (886,465) | (299,165) | 2,006,889 | |||
Consolidated net income (loss) | (1,765,539) | 393,204 | 572,590 | 235,242 | 104,849 | (718,233) | 153,722 | 302,929 | (564,503) | [1] | (156,734) | [1] | 960,257 | [1] |
Net income (loss) attributable to Entergy Corporation | $ (1,769,068) | $ 388,170 | $ 567,314 | $ 229,966 | $ 99,573 | $ (723,027) | $ 148,843 | $ 298,050 | $ (583,618) | $ (176,562) | $ 940,721 | |||
Basic earnings per share (in usd per share) | $ (9.89) | $ 2.17 | $ 3.17 | $ 1.29 | $ 0.56 | $ (4.04) | $ 0.83 | $ 1.66 | $ (3.26) | $ (0.99) | $ 5.24 | |||
Diluted earnings per share (in usd per share) | $ (9.86) | $ 2.16 | $ 3.16 | $ 1.28 | $ 0.56 | $ (4.04) | $ 0.83 | $ 1.65 | $ (3.26) | $ (0.99) | $ 5.22 | |||
Entergy Arkansas [Member] | ||||||||||||||
Operating revenues | $ 462,384 | $ 654,599 | $ 504,252 | $ 465,373 | $ 476,149 | $ 714,353 | $ 551,809 | $ 511,253 | ||||||
Operating income (loss) | 29,843 | 188,660 | 73,447 | 54,378 | (21,635) | 109,236 | 55,149 | 36,656 | $ 346,328 | $ 179,406 | $ 270,004 | |||
Consolidated net income (loss) | 3,879 | 110,148 | 33,891 | 19,294 | (20,780) | 55,662 | 21,525 | 17,865 | 167,212 | 74,272 | 121,392 | |||
Net income (loss) attributable to Entergy Corporation | 3,521 | 108,672 | 32,173 | 17,576 | (22,499) | 53,944 | 19,807 | 16,147 | 161,942 | 67,399 | 114,519 | |||
Entergy Louisiana [Member] | ||||||||||||||
Operating revenues | 973,417 | 1,249,452 | 999,034 | 955,145 | 974,875 | 1,298,482 | 1,074,598 | 1,069,191 | 4,177,048 | 4,417,146 | 4,740,504 | |||
Operating income (loss) | 111,066 | 312,951 | 193,752 | 181,618 | 47,052 | 294,436 | 191,068 | 185,776 | 799,387 | 718,332 | 677,833 | |||
Consolidated net income (loss) | 67,610 | 189,506 | 253,325 | 111,606 | 24,409 | 187,140 | 108,981 | 126,109 | 622,047 | 446,639 | 446,022 | |||
Net income (loss) attributable to Entergy Corporation | 67,610 | 189,506 | 253,325 | 111,606 | 24,410 | 185,290 | 107,037 | 124,165 | 622,047 | 440,902 | 438,226 | |||
Entergy Mississippi [Member] | ||||||||||||||
Operating revenues | 273,726 | 309,739 | 248,138 | 263,046 | 280,452 | 410,743 | 344,975 | 360,815 | ||||||
Operating income (loss) | 32,464 | 88,312 | 61,890 | 41,573 | 24,717 | 74,264 | 58,086 | 54,839 | 224,239 | 211,906 | 186,760 | |||
Consolidated net income (loss) | 13,260 | 46,612 | 32,194 | 17,118 | 4,918 | 36,576 | 26,279 | 24,935 | 109,184 | 92,708 | 74,821 | |||
Net income (loss) attributable to Entergy Corporation | 12,938 | 45,905 | 31,487 | 16,411 | 4,211 | 35,869 | 25,572 | 24,228 | 106,741 | 89,880 | 71,993 | |||
Entergy New Orleans [Member] | ||||||||||||||
Operating revenues | 149,867 | 201,336 | 164,920 | 149,340 | 144,335 | 209,733 | 160,752 | 156,626 | 665,463 | 671,446 | 735,192 | |||
Operating income (loss) | 8,807 | 42,279 | 26,913 | 21,880 | 9,337 | 34,734 | 20,154 | 20,745 | 99,879 | 84,970 | 57,956 | |||
Consolidated net income (loss) | 2,138 | 23,701 | 11,843 | 11,167 | 3,575 | 19,163 | 10,895 | 11,292 | 48,849 | 44,925 | 31,030 | |||
Net income (loss) attributable to Entergy Corporation | 1,896 | 23,460 | 11,602 | 10,926 | 3,333 | 18,922 | 10,654 | 11,051 | 47,884 | 43,960 | 30,065 | |||
Entergy Texas [Member] | ||||||||||||||
Operating revenues | 382,308 | 442,085 | 412,922 | 378,304 | 394,822 | 498,249 | 402,921 | 411,211 | ||||||
Operating income (loss) | 38,338 | 107,964 | 58,039 | 41,269 | 8,944 | 86,624 | 44,064 | 44,013 | 245,610 | 183,645 | 208,715 | |||
Consolidated net income (loss) | 12,785 | 56,133 | 24,058 | 14,562 | (5,170) | 43,314 | 14,890 | 16,591 | 107,538 | 69,625 | 74,804 | |||
System Energy [Member] | ||||||||||||||
Operating revenues | 145,236 | 114,039 | 151,323 | 137,693 | 157,366 | 155,899 | 163,101 | 156,039 | ||||||
Operating income (loss) | 44,781 | 43,886 | 45,020 | 47,466 | 45,239 | 47,135 | 45,470 | 47,784 | 181,153 | 185,628 | 221,116 | |||
Consolidated net income (loss) | $ 23,326 | $ 22,370 | $ 25,090 | $ 25,958 | $ 38,702 | $ 25,223 | $ 21,860 | $ 25,533 | $ 96,744 | $ 111,318 | $ 96,334 | |||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $19.1 million for 2016, $14.9 million for 2015, and $12.9 million for 2014 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Quarterly Financial Data (Narra
Quarterly Financial Data (Narrative) (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2015USD ($)MW | Dec. 31, 2013USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2016USD ($) | Oct. 31, 2015USD ($) | |
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 2,835,637 | $ 2,104,906 | $ 123,527 | |||||
Deferred Tax Assets, Gross | $ 334,000 | |||||||
Regulatory Liabilities | $ 107,000 | |||||||
Gain on sale of asset | 0 | 154,037 | 0 | |||||
Write-Off of Waterford 3 Replacement Steam Generator | $ 77,000 | |||||||
Write-Off of Waterford 3 Replacement Steam Generator, Net of Tax | 47,000 | |||||||
Reduction of Income Tax Expense, Net of Unrecognized Tax Benefits, Resulting From Tax Election | 238,000 | |||||||
Tax benefit related to treatment of Vidalia purchased power agreement | 75,000 | |||||||
Tax benefit related to treatment of proceeds received for financing of Hurricanes Gustav and Ike pursuant to Louisiana Act 55 | 54,000 | |||||||
Expense reduction due to effects of recording final court decision in several DOE spent nuclear fuel lawsuits | 100,000 | |||||||
Expense reduction due to effects of recording final court decision in several DOE spent nuclear fuel lawsuits, net of tax | 64,000 | |||||||
Entergy Louisiana [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Regulatory Liabilities | $ 68,300 | $ 68,300 | 53,900 | 68,300 | $ 16,100 | |||
Write-Off of Waterford 3 Replacement Steam Generator | $ 45,000 | |||||||
Entergy Mississippi [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Write-Off Of Regulatory Asset For New Nuclear | 0 | 0 | $ 56,225 | |||||
Human Capital Management Strategic Initiative [Member] | Entergy Louisiana [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring costs, deferred recovery, pre-tax | $ 45,000 | |||||||
Restructuring costs, deferred recovery, net of tax | $ 30,000 | |||||||
Entergy Wholesale Commodities [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,800,000 | 2,000,000 | ||||||
Rhode Island State Energy Center [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Capacity Of Power Plant Unit | MW | 583 | |||||||
Gain on sale of asset | $ 154,000 | |||||||
Realized Investment Gains (Losses), Net of Tax | $ 100,000 | |||||||
Rhode Island State Energy Center [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Capacity Of Power Plant Unit | MW | 583 | |||||||
Gain on sale of asset | $ 154,000 | |||||||
FitzPatrick, Pilgrim, Palisades, Indian Point 2, and Indian Point 3 [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,836,000 | |||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | $ 1,829,000 | |||||||
Fitzpatrick, Pilgrim, and Palisades [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,036,000 | |||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | $ 1,317,000 |
Schedule II - Valuation And 138
Schedule II - Valuation And Qualifying Accounts (Details) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | $ 39,895 | $ 35,663 | $ 34,311 |
Additions Charged to Income or Regulatory Assets | 7,505 | 6,926 | 4,573 |
Other Changes Deductions from Provisions | (35,476) | (2,694) | (3,221) |
Balance at End of Period | 11,924 | 39,895 | 35,663 |
Entergy Arkansas [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | 34,226 | 32,247 | 30,113 |
Additions Charged to Income or Regulatory Assets | 902 | 2,759 | 2,881 |
Other Changes Deductions from Provisions | (33,917) | (780) | (747) |
Balance at End of Period | 1,211 | 34,226 | 32,247 |
Entergy Louisiana [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | 4,209 | 1,609 | 1,874 |
Additions Charged to Income or Regulatory Assets | 2,942 | 3,464 | 842 |
Other Changes Deductions from Provisions | (874) | (864) | (1,107) |
Balance at End of Period | 6,277 | 4,209 | 1,609 |
Entergy Mississippi [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | 718 | 873 | 906 |
Additions Charged to Income or Regulatory Assets | 259 | 247 | 269 |
Other Changes Deductions from Provisions | (428) | (402) | (302) |
Balance at End of Period | 549 | 718 | 873 |
Entergy New Orleans [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | 268 | 262 | 974 |
Additions Charged to Income or Regulatory Assets | 2,872 | 217 | 99 |
Other Changes Deductions from Provisions | (81) | (211) | (811) |
Balance at End of Period | 3,059 | 268 | 262 |
Entergy Texas [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | 474 | 672 | 443 |
Additions Charged to Income or Regulatory Assets | 531 | 239 | 483 |
Other Changes Deductions from Provisions | (177) | (437) | (254) |
Balance at End of Period | $ 828 | $ 474 | $ 672 |